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SCH D vs 8949

Opfor77
Level 3

Regarding the 1099-B worksheet:

If there is a group of multiple stock transactions that fall under either box A or D with basis reported to the IRS, with no wash sale, I see that they can be input as a total on SCH D, bypassing 8949.  

However, if there is a group of stock transactions that fall under under box B or E with basis NOT being reported to the IRS, or box A or D with basis reported, but has a disallowed wash sale, they have to be input on the 8949.  When prompted to answer the dates sold, and acquired, I can use "various" for acquired, but it won't accept "various" for date sold.  What are people using, 12/31/20, or just picking a random date?

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5 Replies 5
BobKamman
Level 13

When I have Box A or Box D transactions with a minimal amount of disallowed wash sale losses, I just adjust the cost basis to come out with the right amount.  (For example, $50,000 cost basis and $100 in wash sales; just enter $49,900 for cost basis.  Or should it be $50,100?  I always have to think twice before cutting once.)  I doubt that IRS computer matching is looking at anything but the reported number for gross proceeds, any more than they are looking for fantasy dates on transactions.  

Accountant-Man
Level 11

I use 12/31/20 if I'm lazy.

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Opfor77
Level 3

I hear ya, but if there’s 20 separate transactions with 20 different dates within the group, can’t really pick 1 date that encompasses all transactions. 

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Camp1040
Level 8

Only 20, just enter them!

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Opfor77
Level 3

No way lol.  There's about 7 brokerage 1099's similar to the 1st one.  

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