Question

There may be a bug in TurboTax Deluxe. On Form 8949, I have mutual fund sales with "Various" for the Date Acquired. Form shows "See Stmnt", but there is no statement.

Forum|Forum|6 years ago
February 26, 2020
2 replies
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I have checked that Form 1099-B info matches the specific date on Form 8949 for Date Acquired. For some sales, even the Date Sold shows "See Stmnt" instead of "Various".

TurboTax Online

J

jh73Author

Correction: the Date Sold should show a single date. Instead the Form shows "See Stmnt", but again there is no statement.

fanfare

Employee

TurboTax puts that when there is Code "M" in Column (f),

in which case, you made the Mail-in election, perhaps without realizing it.

IRS requires details to be listed on Form 8949,
or on your own forms (e.g. consolidated 1099-B) which have the same information and in the same manner as Form 8949.
Either way, if you choose to summarize, you have to mail the transaction details to the IRS within three business days of IRS accepting your tax return.

fanfare

Employee

Sorry I didn't really note that your issue is with the Date Acquired.

You can disregard my comment above, unless column (f) shows an "M".

J

jh73Author

Apparently, when there are Various dates when shares of a mutual fund are acquired, the program states "See Stmnt" on Form 8949, but there is no statement. The single date of Date Sold is not listed; instead you see "See Stmnt", but again there is no statement you can access in TurboTax. Their entries do have "M" in column F, but the IRS instructions allow you to state "Various" and not itemize every single transaction. That has been the process for many years. The use of "Various" allows you to bypass listing every single transaction.