Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 2, 2024 4:15:10 AM

Tax Summary and Form 8949

I entered a private sale of private stock.  It does NOT show up in the tax summary, but the information I entered does appear in form 8949 in the forms listing, but it does not allow me to edit the information.   

0 1 486
1 Replies
Expert Alumni
Apr 4, 2024 5:49:20 PM

Only the net gain on the sale of the stock would show on your tax summary after it was combined with other capital gains and losses you entered. You can see your net capital gains listed on line 7 of Form 1040. If you have more then $3,000 in net capital losses for the year, only $3,000 will show on line 7 of Form 1040. You cannot adjust entries on Form 8949 directly, you would have to edit your original entry in the Investment Income section of TurboTax to change the entries listed on Form 8949.

 

To view your form 1040 and schedule 1 to 3:

 

  1. Choose Tax Tools from your left menu bar in TurboTax Online
  2. Choose Tools
  3. Choose View Tax Summary
  4. See the Preview my 1040 option in the left menu bar and click on it
  5. Choose the Back option in the left menu bar when you are done