ProConnect HelpIntuit HelpIntuit

Schedule D tax import 1099-B basis not reporting in Lacerte

SOLVEDby IntuitLacerte Tax23Updated September 23, 2021

This article will help understand how to get the Schedule D import to bring the correct information to Screen 17, Dispositions to indicate if the 1099-B did or didn't report the basis (code 541).

  • Go to Screen 17, Dispositions.
  • Scroll down to the Schedule D subsection.
  • Locate the input field: Reported on: blank=Form 1099-B with basis reported to IRS, 1=1099-B but basis not reported to IRS, 2=form other than Form 1099-B (Form 8949)
  • This field only recognizes three pieces of information: blank, 1, and 2.
    • Blank indicates that the basis was reported on the 1099-B.  By not entering anything in the field, the preparer tells the program that the disposition should appear on the 8949 as a checkbox A item.
    • The number 1 indicates that no basis was reported on the 1099-B, and therefore should be reported on the 8949 as a checkbox B item.
    • The number 2 indicates that a 1099-B wasn't used at all, and therefore the transaction should be reported with checkbox C marked on the 8949.

To get the Schedule D Import to fill out the field accordingly, use blank, 1, or 2 in the Excel spreadsheet. Any other entry won't register in the Schedule D Import Wizard and won't be imported into Lacerte.

Was this helpful?

You must sign in to vote, reply, or post
Lacerte Tax

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.