, Answering FAQ'sTurboTax Employee
Form 8949 is where details of your sales and exchanges are shown, allowing you and the IRS to reconcile amounts that were reported to you and the IRS on Form 1099-B or 1099-S (or on a consolidated or substitute statement) with the amounts you report on your return.
When your sales and exchanges of capital assets are entered in TurboTax (Premier and above editions), they also appear on Form 8949 and are moved to Schedule D, Capital Gains & Losses. Part I of the form shows short-term sales (assets held less than one year), Part II shows your long-term sales (assets held more than one year).
How do I fill out the information for Form 8949 in TurboTax?
When you enter your sales or exchanges of capital assets in TurboTax Premier or Home & Business editions, we automatically fill out Form 8949 for you.
To enter sales or exchanges of capital assets, in the TurboTax search box, enter investment sales and click the Jump to investment sales link.
On the screen Did You Sell Any Investments in 2014? screen, click Yes and answer the interviews to enter your investment sales information.
Note: In Deluxe and lower versions, you’ll be prompted to upgrade to Premier, which supports the Schedule D you need to report your investment activities.