Question

I thought I needed to fill out stock info and upgraded to Premier and now it tells me the 8949 form is filed automatically... Can I return to Deluxe?

Forum|Forum|5 years ago
March 10, 2021
1 reply
0 views

No text available

TurboTax Premier Online

No, you can't downgrade to Deluxe because the Deluxe Online version won't generate Form 8949 Sales and Other Dispositions of Capital Assets. The TurboTax Online versions that automatically generate form 8949 when you enter investments is TurboTax Premier and Self-employed.

The Premier version will calculate your total capital gains for the year minus your total capital losses which will result in a net gain or a net loss.

You can deduct a net loss of up to $3,000 ($1,500 if married filing separately).
Any capital loss you couldn't deduct this year can be carried forward and deducted on future tax returns as a capital loss carryover.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"