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February 19, 2024
Question

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

  • 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

    3 replies

    February 19, 2024

    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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    February 24, 2024

    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

    February 24, 2024

    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. 

     

    October 13, 2024

    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

    February 24, 2024

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