Using version 2019 Professional, I can't get s Code "N" (nominee) adjustment to gain/loss to show up on Form 8949 column (f). I have followed the instructions per the link below to input my transaction. The dollar amount adjustment shows up in column (g), but the Code "N" won't show up on Form 8949. Help!
Thank you! Eric
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Thank you, but the link instructions did not resolve my issue. I don't think the 2019 software supports Form 8949 code "N" (nominee). For 2020 version, it works fine - I enter the Sch D sale transaction, then double click - it takes me to a Capital Gain Adjustment worksheet - Part III Specific Adjustments - and check the box for "N". Then it properly zeroes out the gain or loss as an adjustment.
@ERIC J In 2019 you put "N" in line 7 as you did, and it does not show up on the 8949. for 2919 you have to have a nominee statement. Click on "where do I enter" on top menu, and type "nominee" in the dropdown list that comes up, choose "Nominee Explanation Statement" fill that out, and you should be good to go
Yes, thank you Terry, I tried your recommendation but still cannot get the "N" to print on F8949. I found your nominee explanation statement and filled it out (although it is titled for nominee reporting for "Capital Gain Distributions" not Form 8949 sale transactions like mine). I seem to have all the input correct in Part X line 7 and otherwise of the Capital Gain Transaction Worksheet. Still no luck.
My workaround is to plug my cost basis to match the proceeds for a ZERO Gain/Loss. In the description field, I added the verbiage "Nominee Only-Reported at EIN xx-xxxxxxx". Hopefully I can at least avoid an IRS CP2000 matching notice this way.
For emphasis, I'm also adding a general explanation statement to the 1040 explaining the details of the nominee transaction and its proper reporting on the tax return for the actual owner of the income.