Question

How do I change individual stock transactions from short to long term or vice a versa?

Forum|Forum|2 years ago
February 19, 2024
3 replies
0 views

I need to update some of my stock trade designations on Form 8949 for short to long term. However, I cannot seem to find where I can edit this. Thank you

J

JamesG1

In TurboTax Online, correct the Sales Section title to change an incorrect stock designation such as long-term that should be reported as short-term.

Click the down arrow to see the choices available.

At the screen Let's finish pulling in your investment income, click the down arrow to view the Edit button.

In TurboTax Desktop, select Edit at the screen Your investment sales summary.

Click on the pencil to correct the Sales Section title to change an incorrect stock designation such as long-term that should be reported as short-term.

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B

blbright58Author

Can I make the change using the s/w on a Mac or do I need to upload it to the online service? If so, how do I upload it? Thanks

M

mglauner

Yes, you would Edit 1099-B info the same way, if you're using TurboTax Desktop.

Type '1099-B' in the Search area, then 'Jump to 1099-b' to get to the Investment Summary page. Choose Review.

T

TahoeJeff

How would this work for non-1099 items? So I have a loss from a bad loan I made and its showing as short term loss (8949 and D) and I can't see how to change that to long term. Can't delete the 8949 it just reappears, and can't remove the items from the D either. Its like an endless loop of dysfunction for a simple thing I need to do.

Hoping someone has a clue on this! Thanks

B

blbright58Author

Nevermind. I located the section in the Mac s/w. Thanks