taxmo
Level 4
Level 4
‎03-21-2024 03:29 PM

I have a 1099-B that shows sales with a basis that was not reported to the IRS, but the 1099-B does show the details of the transactions with the cost basis.  Is it correct that I need to attach the 1099-B to the return in this case?  Do I do that by going to the "Electronic Return File Attachments" page and linking it as "11 = Sch D - Other"?  Do I also need to attach it to the state return (California)?

I couldn't find any ProConnect instructions for this, so I'm just wondering if I'm doing this correctly. 

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sjrcpa
Level 15
‎03-21-2024 03:51 PM

If you're just entering totals then yes you need to attach the details.

The attachment is 8949 Exception reporting or something close to that.


The more I know the more I don’t know.

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taxmo
Level 4
Level 4
‎03-21-2024 04:14 PM

Ok thanks.  Here is my updated understanding of what to do (documenting this here since it doesn't seem to be in the ProConnect documentation):

  • Enter the disposition as Date acquired/sold blank. 
  • Override long or short term.
  • Schedule D -> Reported on: "1=Form 1099-B but basis not reported to IRS" (or option 2).  Check "Summary from attached statement". 
  • Have to attach transaction details.  "Electronic Return File Attachments" page and linking it as "46 - Form 8949 Exception".  
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