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How do you enter a negative adjustment in the business 8949? Problem with 8949 in the Business software for 1041 Trust returns.

Forum|Forum|2 years ago
February 26, 2024
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I am talking about adjustment for accrued market discount for treasury sales. The regular Deluxe software for 1040 works for my 8949, just not the business 1041 software.

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Best answer by Anonymous_

@Rubykinglet wrote:

Investment Income, which allows me to enter my 1099-B box A Box B Box D Box and Box E. When I start with one of the Boxes, like Box A, I only have two entries Total Proceeds and Total Cost Basis....

Stocks, Mutual Funds, Bonds, Other? Is that the section you're using under Investment Income?

We have exactly the same software so our screens should look exactly the same unless you somehow selected the wrong type of return or are in a different section of the program.

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A

Anonymous_

You cannot enter this in Step-by-Step?

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RubykingletAuthor

No, my step by step only asks if I have any adjustments and when I answer yes it only allows a positive number. This is the Business software using the Trust 1041

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RubykingletAuthor

I did answer that I wanted to do a summary. I could not find a way to change that so I started a new return and didn't answer for summary and I now have the same screen as you do. So I will see if that works for me. I will let you know. Thanks

Ok I started over and entered all my detailed sales and did not mark for summary entry. I did have to enter the accrued market discount as a positive and it created the 8949 with a negative and added that amount to my interest income as it should. So all is good now. Thank you