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Entering Capital Gains details in 8949 and Schedule D

I have an overseas property that I sold off last year with a small capital gain.  I have been told to enter details in Part II of Form 8949 and that automatically fills out Schudule D.

 

However, the TurboTax Desktop version does not facilitate or allow entering capital gains details to form 8949.  It just says I don't need to fill out... But does not provide any means to create the form...

 

How do I report this capital gain on Desktop version of TurboTax?

 

 

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1 Reply
JamesG1
Employee Tax Expert

Entering Capital Gains details in 8949 and Schedule D

In TurboTax Desktop, enter the transaction by following these steps. 

 

  • Select Federal Taxes across the top of the screen.
  • Select Wages & Income across the top of the screen.
  • Select I'll choose what I work on.
  • Scroll down to Investment Income.
  • Click to the right of Stocks, Mutual Funds, Bonds, Other.
  • At the screen Let’s finish pulling in your investment income, select Add investments.
  • At the screen Let Us Enter Your Bank and Brokerage Tax Documents, select Skip Import.
  • At the screen OK, let’s start with one investment type, select Other, Land, Second homes, Personal items and select Continue.
  • At the screen Which bank or brokerage sent you this form, enter the information.  Continue.
  • At the screen Now, enter one sale, enter the information.  Continue.
  • Select Add another sales total as necessary.  Continue.

The transaction will be reported on IRS form 8949 and IRS Schedule D.

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