Form 8949 and Schedule D

When i enter my data for Schedule D, I do not have the option of manually selecting Box A - which should be short term gains (covered). I select the latter, but the data shows up on Sked D in Part 1 line 1a vice 1b. I can't manually enter wash sales, which would be the adjustments to column g.

Think the issue is how I first entered the data, but can't find my error.

looking for help

thanks

1363

New Member

Apr 6, 2024 3:42:37 PM

Believe me, I doubt the turbotax people know how to help you. I had 3 "experts" today try to correc the cost basis from my 1099b and it was abject failure. They don't even know what column F or G is on an 8949. Sending you prayers.....

New Member

Apr 6, 2024 4:25:41 PM

You can try something like this. It's the only way I've been able to generate the ability to put a code into IRS form 8949 column f and to adjust cost basis in column g. I hope it helps some.

Turbotax how-to:

Add investment--do not download from the brokerage.

Enter different way, choose 1099 B, add in bank/brokerage name, Yes to employee stock, Choose Yes or NO, as appropriate, for "sales sections" on the1099B question

To enable correct entry of column f and g in form 8949, enter 1099B by hand, choose, then choose Enter sales totals instead, press continue, fill in box 1d and 1e, then choose the check box "I need to adjust my total cost basis, then choose "B"--or your appropriate code, cost basis incorrect on form. This should give the correct adjustment to the cost basis in the form.

Turbotax will ask to upload the 1099B and other documentation using pdf upload option in turbotax

Before filing, check the actual 8949 Form, boxes 1e, 1f, and g. (Tax Tools, print center, print/save/preview return, search 8949, and check that it matches)

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Form 8949 and Schedule D