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Form 8949 data can't be entered

Forum|Forum|1 year ago
December 26, 2024
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I have TurboTax Premier 2024, which is supposed to handle security sales. However, it won't let me enter the data from form 8949, and if I override the TurboTax form, it doesn't carry the information forward.

Best answer by fanfare

Sorry, I had forgotten exactly how I entered them. I finally got that to work after creating a 1099-B. Too many steps to enter the data for year-end tax planning!!!

if you want to estimate tax effect,

you can just aggregate all YTD gains and losses LT and ST, into one or two imaginary1099-Bs

That's what I do and I know the exact 1040 Line 7 amount

@marhill

B

Bsch4477

When you enter investment sales or exchanges from Form 1099-B or 1099-S in TurboTax, we'll automatically fill out Form 8949 and transfer the info to Schedule D. You don't need to fill out the 8949 yourself.

6

645546

Form 8949 did not generate automatically-- I found help googling that advised if I clicked on the zoom button I could force it to generate. That worked box D entries. How do I get a second page 2 of Form 8949 to generate for Box F entries? The efile error I received said to use the smart sheet to enter box F information (I had entered by override on Schedule D itself since box F is not in the Step by Step interview questions) but cannot find how/where to enter it in the smart sheet sections; and of course, adding a second Form 8949 manually results in an error. Is there any way to efile with Box F entries?

rjs

I’m doing summary entries as I do every year. This year no adjustments/wash sales etc. 1099-B shows three entries categorized as, Form 8949 Type A (short term basis reported), Type D (long term basis reported), and Type F (long term Form 1099 not received). I filled in the summary sales as I do every year through the interview. Schedule D populated correctly for the amounts Type A and Type D, however I could not find where to enter Type F. I entered it directly in Schedule D on the correct line. Error review said I needed a Form 8949. I found a way to generate it using Zoom. It correctly populated Type A and Type D. It did not populate Type F and efile error states I need to use the smart worksheet for Type F to populate Form 8949 which must match schedule D for which I cannot find to do.

@645546

Entering investment sales in forms mode is very complicated and error-prone. That's why TurboTax strongly recommends using the Step-by-Step interview to enter investment sales.

Remove all overrides from your tax return, and any forms that you created in forms mode. Then enter the sales using the interview. At the top of the screen where you enter the summary totals, where it asks for the "sales section," select "Long-term did not receive 1099-B form." That will create a Form 8949 page 2 with box F checked.

fanfare

You can't acess Form 8949 directly.

You must use the Investments-> 1099-B panel to enter the amounts from your broker documents.

The software will generate those forms and Schedule D

@marhill

rjs

Entering investment sales in forms mode is very complicated and error-prone. You should enter your investment sales using the Step-by-Step interview. TurboTax will fill out all the necessary forms, including Form 8949 and Schedule D.

The investment sales section of the Step-by-Step interview is available now. Make sure that you have installed the most recent updates to the software.

Make sure that you remove any overrides that you made. As you have discovered, an override can prevent the automatic calculations in TurboTax from working correctly.

M

marhillAuthor

I am perfectly capable of entering the 8949 data myself. I just enter data directly into all the forms and would rather do my return manually than use the step-by-step process!! Entering the data directly into form 8949 has worked in past years, and my software says it is updated.

rjs

You cannot make entries directly on Form 8949 in TurboTax. That has been true for at least the last 8 years. I don't know what you did in past years. Sales have to be entered on a Capital Asset Sales Worksheet.

If you just want to fill out blank forms on your own, you can download blank forms from the IRS web site and fill them out manually.