spencerhos1
Level 2

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

0 Cheers