Is it possible to enter the total for each line from the broker statement without having to enter 17 pages of transactions?
Best Answer Click here
This discussion has been locked. No new contributions can be made. You may start a new discussion here
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
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
Yes, it's been permitted for years.
Where do I find Direct Entry for Pro Series Basic?
Use the schedule D worksheet. Not directly on the form.
Just use the total by type of transaction.
Is it necessary to attach the 1099B?
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.
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.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.