spencerhos1
Level 2
07-30-2021
09:40 AM
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My client sold stock and invested in QOF.
My problem is that the form 8949 shows an adjustment for the amount of the investment. This results in a capital loss for the amount of the investment.
The stock sold correctly shows on form 8997 as being deferred, it correctly does not show on 8949
I completed the stock sale using 1099-b worksheet. used the zoom function to go to the adjustment worksheet. the transaction populated on part 1.
I went to part III and completed the election for deferral ( cost of QOF date of QOF amount deferred, etc.
this caused an adjustment amount to part I
What have I missed
I have read numerous thread cannot find an answer
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