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sale of securities

gk1
Level 2

how do i enter the sale of a LT security that needs Box D on Form 8949?

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13 Comments 13
George4Tacks
Level 15

Screen 17. Enter the items into the grid. Make sure the dates make the sale long term (year and a day). Make NO ENTRY in the column after Basis, that will make the code D.

In this image the first 2 will be code E, the third entry will be code D.

Capture.JPG

 


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gk1
Level 2

specifically looking for how to code entry so that Schedule D line 8b gets populated.

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George4Tacks
Level 15

That is exactly what I gave you. 

Make long term. Enter NOTHING for the Basis reptd...

Form 1099-B: blank=box 3 shows basis, 1=box 3 does not show basis, 2=Form 1099-B not received

Schedule DScreen 17; Code 541

This field determines where the asset prints on Form 8949. Leave this field blank if the transaction was reported on Form 1099-B with the basis reported to IRS. This will print on Form 8949 with Box A or D checked. Enter ‘1’ if the transaction was reported on Form 1099-B but the basis is not reported to IRS.. This will print on Form 8949 with Box B or E checked. Enter ‘2’ if Form 1099-B was not received.   This will print on Form 8949 with box C or F checked.

 


Here's wishing you many Happy Returns
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gk1
Level 2

the 1099 says "transactions should be reported on 8949 in Part II with Box D checked. 

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PhoebeRoberts
Level 11
Level 11

So when you made the entries George told you to make in Lacerte, and viewed forms, what did your result look like?

gk1
Level 2

my issue is the 1099 says to report sales on 8949 with box D checked.  i still don't have that answer

 

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George4Tacks
Level 15

Sorry, I give up. I told you twice how to make the program do what you want. Call support. 

8949 Part 2 is long term so make sure the dates are far enough apart.

D is "transaction reported on ..." which is a BLANK

Good luck.


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PhoebeRoberts
Level 11
Level 11

Yes, you do. You can see George's responses to you, right? And you can see the screenshots in them that show the Lacerte input?

George4Tacks
Level 15

Okay, One last try. 

Screen 17 > Disposition (middle of left column) > Carryovers/Misc Info (click the underlined portion > Schedule D > last option enter 1=yes

Now look at the forms view.

P.S. You are not required to have option 1=yes. It is permissible to show the sale on Schedule D. line 8a.

 


Here's wishing you many Happy Returns
DennyBriBri2
Level 2

I followed your example yesterday for a taxpayer and it worked.  I have another taxpayer (they are bothers with similar gains/losses) and I cannot get the values where Box D or Box A is checked (8b/1b).  Is there another place in Details to indicate what Box is checked?

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MattyIce
Level 1

George isn't understanding the problem most likely. 

Under: Settings>Options>Tax Return(tab)>(scroll to)"report all assets on form 8949">(select)Yes

Now your box (A) and (D) assets should flow to form 8949 and to the correct lines on Sch D

Just a settings issue.  Hopefully that helps.

 

Reedcullen99
Level 1

That solved mine for this problem!! Thank you

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lina
Level 3

Thanks! Assumed was a setting issue but wasn't sure where to fix this. 

 

 

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