Schedule D Direct Entry

[LINDAAHILL]

Is it possible to enter the total for each line from the broker statement without having to enter 17 pages of transactions?

[RollTide68 · Accepted solution]

Yes but you still use the worksheet

Short term with basis reported total

Short term with basis not reported total

Short term not on 1099-B total

Repeat for long term

[Accountant-Man]

Yes, it's been permitted for years.

[LINDAAHILL]

Where do I find Direct Entry for Pro Series Basic?

[RollTide68]

Use the schedule D worksheet.  Not directly on the form.

Just use the total by type of transaction.

[Skylane]

Is it necessary to attach the 1099B?

[RollTide68]

No.

Had a client doing Robinhood's Margin Glitch with 178 pages of transactions.  No way he could afford my fee to input that many transactions. 

[rbynaker]

I enter most of the stuff directly onto Sch D.  See 1a and 8a:

https://www.irs.gov/pub/irs-pdf/f1040sd.pdf

You have to have basis reported and no wash sale (or other) adjustments.  That's most of what I see these days though.  They're so much easier when they're covered, smothered & scattered.