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Capital Gains (loss) detailed worksheet in 2020 Proseries program

gregg
Level 2

Can anyone tell me where the Capital Gains (loss detail worksheet is in the  2020 Proseries program?  Was in the 2019 not in 2020.

Very simple worksheet no missing?

 

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Just-Lisa-Now-
Level 15
Level 15

You need to click the 1099B worksheet button at the top of Sch D.  Then scroll down that worksheet page a bit and you'll find something similar to the old Sch D.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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Just-Lisa-Now-
Level 15
Level 15

You need to click the 1099B worksheet button at the top of Sch D.  Then scroll down that worksheet page a bit and you'll find something similar to the old Sch D.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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jtwardy
Level 1

The "solution" posted is worthless.  "gregg" and I are looking for what was known as the "Capital Gains Worksheet" that was included in the 2019 (and many prior tax seasons) ProSeries Tax releases.  I used it to record the exercise of various employee stock options.  Info recorded here was included in the "Employee Stock Worksheet", and a summary of the client's equity income included on their W-2 was reported on the "ESP Compensation Worksheet".

The "Capital Gains Worksheet" is nowhere to be found in the 2020 ProSeries software.

jtwardy
Level 1

I believe that I found the solution to the missing "Capital Gains Worksheet" issue by the usual software trial and error method.  Yes, this 2019 worksheet does not appear to be included in the 2020 ProSeries Tax release ... but since I don't work for Intuit, I can't confirm this.

Here's how to record the sale of RSU shares that were withheld to cover a client's income tax withholding liabilities:

1. Open the "Form 1099-B Wks" worksheet. Record the sale of the RSU shares that were withheld to cover the client's income tax withholding liabilities here.

2. Open the "Capital g/l adj." worksheet. Scroll down to Part III. "Specific Adjustments".  Check the box next to "Check this box for employee stock sales requiring adjustments."  You don't need to record anything else here.

3. Open the "Emp Stock Wks" worksheet. Scroll down to Part VI, "Restricted Stock Units (RSUs".  Record the details of the RSU release here.

4. Open the "ESP Comp Wks" worksheet. You should now see the Compensation Income attributed to the client as a result of the exercise of this particular RSU.

5. Repeat the above steps for however many stock options that the client received or exercised during the year.

That's it.

taxpro2000
Level 3

This post is the correct solution (not the one tagged as the solution). Thank you!

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KJM14
Level 2

Thanks for this - wish I found it before I spent a day coming to the same process.  So this is only for the stock sold for taxes.  If they then sold the remaining stock issued at/near the same time, I am thinking to follow step 1 and 2.  However in step 2 I would just change the cost basis to be the (stock issued)*(mkt value of the stock on vesting).  Is that right?

For example, they had 143 vested and 64 sold for taxes. Mkt price is $141. They sold the other 79 a couple months later.  I use the example below for the 64.  For the 79, follow step 1 but in step 2 I would go to the 'Specific Adjustments' and change the basis to 79*$141 and ignore steps 3-5.  Does that sound righ?

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taxpro2000
Level 3

Yes, KJM14, that is how I would report the situation you reference.

IRS Changed reporting requirements.

When you filled out the capital gains detail worksheet each of those transactions flowed through the 8949 and then onto schedule B.  Now you just open the 1099-B (even if you didn't receive one) and report the aggregate data for each brokerage account (which is probably what everyone was doing anyway).  They already have the detailed information so it saves the people who were doing things correctly from putting in multiple individual transactions.

 

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IRonMaN
Level 15

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