1099-B Section not working until Jan 4 2024 !

[TaxPlanner2023]

For those who use TurboTax to plan stock sales, you can no longer do this as the section will not be available until January 4, 2024 !   At this point sales for the 2023 tax year can no longer be make. This is useless and should be a warning before you purchase the product. 

[tagteam]

Thanks for posting your concern.

However, note that it is best not to enter the transactions prior to receiving 1099-B statements.

[rjs]

The IRS just released Schedule D for 2023 today (Dec. 21). They still have not released the Schedule D instructions or Form 8949 and its instructions for 2023. Those forms are needed to report stock sales. When the forms aren't available from the IRS, there's not much that TurboTax can do.

If you are using the CD/Download TurboTax software you can enter stock sales in forms mode (with the understanding, of course, that the forms aren't final).

[taxhard47]

I am using TurboTax 2023 to help calculate a more precise 2023 Roth conversion amount (bracket filling) so this Schedule D delay is terribly disappointing.

[Brian94526]

I, too, am using it to calculate an optimum Roth conversion amount prior to Dec 31 2023, so not having Schedule D available is unacceptable, even if it is the IRS's fault.

You mention I can enter it on Sched D in forms mode. I'm in Sched D in forms mode  but it's not letting me enter any data (for instance Part 1 Line 7). Please explain further how I can do this.

[taxhard47]

You might try "QuickZoom to Schedule D Tax Worksheet" at the bottom of Schedule D form's page.

I found this same inability-to-enter issue on Schedule D Part II line 13 (Capital gain distributions). Is there a way to enter line 13?

[Brian94526]

I've just discovered "Override" allows you to enter data, but I'm not sure of the implications

[rjs]

---

@Brian94526 wrote:

I'm in Sched D in forms mode  but it's not letting me enter any data (for instance Part 1 Line 7).

---

@Brian94526 

Schedule D line 7 is the sum of the lines above it. You have to enter transactions that are reported on those lines so that they get added into line 7.

You cannot make any entries directly on Schedule D. Investment sales have to be entered on a Capital Asset Sales Worksheet. From there the information flows to the Form 1099-B Worksheet, Form 8949, and Schedule D.

[rjs]

---

@taxhard47 wrote:

I found this same inability-to-enter issue on Schedule D Part II line 13 (Capital gain distributions). Is there a way to enter line 13?

---

You cannot make any entries directly on Schedule D. Schedule D line 13 comes from capital gain distributions entered in box 2a of a Form 1099-DIV. You can enter that in the Step-by-Step interview.

[fanfare]

Your Roth conversion does not go on Schedule D.

It is just ordinary income on 1040 Line 4 or Line 5.

If you override and your tax changes, you have the estimate you are looking for.

@TaxPlanner2023 

@taxhard47 

[taxhard47]

Understood, but to get the best estimate of tax liability pre-1099-R-DIV-etc., I want to enter as much information as I know (from my brokerage account and last year's similar transactions).