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2020 tax Year -Entering Total sale of short long term stocks

Nile
Level 2

Problem with 1099 B entering total short and long term stocks:  When putting in the total for short or long term stocks the sold date cannot be left blank, it shows error, is there a work around it? Also, down at the bottom it doesn't allow to select yes for attaching a file - it defaults to No, is there any instruction for this anywhere?

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Just-Lisa-Now-
Level 15
Level 15

Ive just been fudging in a sales date and using various for the purchase. We used to be able to leave the dates blank and just choose L or S


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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11 Replies 11
Just-Lisa-Now-
Level 15
Level 15

Ive just been fudging in a sales date and using various for the purchase. We used to be able to leave the dates blank and just choose L or S


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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Camp1040
Level 8

I am not seeing a place to enter the date if you are summarizing total short or total long sales. I have just been entering Proceeds and cost basis as long as no wash sales were involved.

I use the worksheet "Form 8949 reporting exception transactions"  no dates required.

Nile
Level 2

I tried that, but at the bottom where it says attach a file Yes or No- it still defaults to No.  One more thing for adjustment code I used code M to show a file is attached, that seems to turn off the error message but it didn't solve my second issue, which is attaching a file- yes or no.... 

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Just-Lisa-Now-
Level 15
Level 15

Oh you need to Code it M for that attachment box to mark yes.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Camp1040
Level 8

If all transaction are "basis reported to the IRS" I have never attached a file or statement.

sjrcpa
Level 15

You don't need to for covered transactions, unless there are adjustments.


ex-AllStar
Nile
Level 2

If there are no adjustments - yes it works.  If you have wash sales and several of them then, do you enter each transactions?  Is that the solution? 

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IRonMaN
Level 15

I still don't get why folks find the form so perplexing this year.


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Just-Lisa-Now-
Level 15
Level 15
I dont either, Im doing things the same as usual. And Im still not attaching or sending in anything extra, if they want the details, they can ask for it. CAGMC

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Nile
Level 2

I appreciate your answers, but I don't agree with it: if you use the summary line then you don't have place to put in wash sales.  I always attach  detail statements if I use  totals, as It doesn't require that much work on myside and I don't like clients to worry about getting a notice letter in regards to their returns.

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Camp1040
Level 8

That is what this thread has been saying, we are assuming no wash sales in order to use the summary transaction boxes.