Form 8949

Forum|Forum|4 years ago
March 15, 2022
2 replies
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Is there a way to force Turbo Tax to print all my sales of stocks on Forms 8949 without Turbo Tax doing the summary on lines 1a and 8a of Schedule D. I use desktop Premier

It's next to impossible to reconcile the downloaded information without seeing the individual sales on Forms 8949. The method that Turbo Tax has used to aggregate or not aggregate the sales onto Form D is a total mystery to me.

tpopplewellAuthor

On https://turbotax.intuit.com/tax-tips/investments-and-taxes/guide-to-schedule-d-capital-gains-and-losses/L1bKWgPea

Turbo Tax says: "If an exception applies you can still voluntarily report your transactions on Form 8949 which might be easier if you have some transactions that meet the exception requirements and some that don't."

It does not say how to do this.

GeorgeM777

If you are eligible to use the summary method for your 1099-B transactions, then when you select the Stocks, Mutual Funds, and Bonds category, you will see a page where you can select whether you have received a 1099-B. Select No. Continue through the application and you will see the following page where you can enter a summary for each sales category.

@tpopplewell

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tpopplewellAuthor

I think the only way you can see the details of the stock sales is through the "Capital Asset Sales Worksheets" which has the information from the applicable Forms 1099-B's as downloaded. You can print that out if you want in the Forms view. You can reconcile the totals for each "Box" (A, B, C, D, E, F) for each Form 1099-B by using the related Form 1099-B Worksheet (which you can also see in the Forms view) and reconcile those to the applicable totals on the related Form 1099-B. Finally, you can reconcile the amounts on Schedule D by comparing the totals for each line item on Schedule D to the sum of the totals for that line item from all the Form 1099-B Worksheets set out under "Form 8949 and Schedule D Totals" on the Form 1099-B Worksheets ( I used an Excel spreadsheet to sum those up). You can see the Forms 8949 in the Forms view and print them if you want, but they will NOT contain any sales that are summarized in lines 1a and 8a on Schedule D. That detail for each sale is only in the "Capital Asset Sales Worksheets".

Seems like a step backward in programming, but at least you can still get the information to check things out before you file, if you want.

GeorgeM777

In TurboTax desktop you can switch to Forms. The Forms option is in the upper right side of the page. Clicking on Forms will open a window on the left side of the page where you should be able to see all of your forms, including Form 8949. Select Form 8949, and then click on the Print button at the bottom on the page. Another window will open giving you the option to save Form 8949 as a pdf copy and also to review it before printing.

@tpopplewell

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