I have tried to enter the information on form 8949, but TurboTax says that form is automatically generated when I enter information into schedule D. The problem is, it won't let me enter any information in schedule D.
Where in my Mac Desktop software do I enter a sale in the Schedule D input and the system generates the 8949?
I am trying to enter the information for the sale of an inherited home -- reported to me on 1099 – S.
The Investment sale section to report the sale of an inherited property will not be available until January 4, 2024.
To enter an investment sale -
Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Mutual Funds, Bonds, Other, click the start or update button
You cannot make any entries directly on either Schedule D or Form 8949. Asset sales have to be entered on a Capital Asset Sales Worksheet. From there, the information will flow to Form 8949 and Schedule D. But entering asset sales in forms mode is very complicated and error-prone. It would be much easier and safer to wait a week and use the Step-by-Step interview to enter the sale.