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Is anyone else having trouble with Form 8949? I attach a summary for multiple transactions. It is very straightforward if there are not wash sales and basis is being reported. However, when that is not the case, I get an error in the "date sold" field, when I leave it blank. I don't know if it is a season long software problem, or if I am overlooking the solution.
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It's been a long tax season.
I think you are overlooking the solution -- you have to enter the date sold.
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That works if all stock sales that are being summarized are sold on the same date. But, in most cases they are not.
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I use the sch D worksheet. I summarize those sales that are reported along with the cost basis without any adjustments. For any sales with adjustments or non-reported basis, I use the lines in the body of the form -- similar to prior years. And yes, each sale date will be a new line.
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♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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I have clients that have literally hundreds of sales...hence, I attach the pdf of the statement.
If I have to enter each sale manually, the purpose of attaching a summary is defeated.
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I've been overriding when filing. I'm glad to hear I'm not alone with this problem. Do you just use a random date, such as year end?
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Ive been using the sale date of one of the stocks that were sold, Various for the acquired date, then choosing Short or Long in that box.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Thanks. I thought for sure by this time in the tax season, they would have this mess cleaned up.
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I just enter 12-31-20.
All were sold by then, and the IRS has or gets the detail anyway when I attach a pdf of the Broker Stmt.
(I know I may not have to in all cases, it's just easier for me to attach all of those I use summaries for.)
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I guess that could work...however, it could make some short term gains appear long term.
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As the Keeper of the Register of Stupid Rules, we have listed this requirement for a sales date in the category of Inexplicable Limitations. (See also, Intuit's requirement that only returns e-filed with the program can be amended electronically with the program.) In this case, though, it's not the fault of Intuit -- it's IRS that causes the problem.
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Not if you use the correct code that tells the 8949 which category to include it in.
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I meant it could appear to be in the wrong place if there was a date purchased listed. I guess that instance is few and far between when attaching a summary, since Various is most often used for the date acquired. Thank you:)