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1099B 8949 Code Error

Level 2

Entering bulk stock summaries, and attaching stock summaries have been easy this year.

Oddly, a simple one-transaction stock is causing a problem in the software.  

One sale, short term, Basis Reported, Reported on 1099-B.  The boxes I used to click select "basis reported" and "1099-B" are now controlled by the 8949 Code.  

https://proconnect.intuit.com/community/form-1099-b/help/methods-for-entering-stock-transactions-for...

I used the above article to find the correct code - which was Code A.  I entered this code on both the 1099-B and 8949 form.  Both of the boxes remained red - indicating an error.  When I removed the code the red error would disappear, but the boxes would revert to being checked "no" on both - when I need "yes" on both.  I was able to override the red error box on 8949, but the error persists on 1099-B.

Right now the only way to report without an error is to ignore the code box entirely, and simply enter the numbers on the statement.  The two checkboxes are wrong, but at least the correct proceeds, basis, and gain/loss are reported. 

Code A is described as fitting the data I was trying to enter - so my only thought is a software bug is causing this.  Has anyone else had this problem?  Has anyone found a way around it? 

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Level 2

I believe I've finally stumbled across the solution.

At the top of the 1099-B form.  You have the header with the Name, Account #, Owner of Account.  Below that a checkbox with the phrase "Transactions were not reported to IRS".

This box was not selected during my initial entry, but it seems to auto-select itself via a software glitch.  The solution to the code issue was this box.

I will leave this series of chat boxes up in case someone else is struggling with the codes.

Never thought I'd miss the old Schedule D.  

View solution in original post

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2 Replies 2
Level 2

Some additional information:

The red error box gives me this message "Form 8949 check box has an invalid selection for . "C" or "F" are the only valid selections for a worksheet with transactions not reported to the IRS".  Nothing I've selected on Sch D or 1099-B indicate transactions are not reported.  So I have no idea why the program thinks Code A is unacceptable.

I've also had this happen on at least 3 taxes so far.  So this is not related to a bug on a single tax file.

0 Cheers
Level 2

I believe I've finally stumbled across the solution.

At the top of the 1099-B form.  You have the header with the Name, Account #, Owner of Account.  Below that a checkbox with the phrase "Transactions were not reported to IRS".

This box was not selected during my initial entry, but it seems to auto-select itself via a software glitch.  The solution to the code issue was this box.

I will leave this series of chat boxes up in case someone else is struggling with the codes.

Never thought I'd miss the old Schedule D.  

View solution in original post

0 Cheers