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.