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Trying to input a QOZ inclusion event. Form 8949 instructions say to leave Columns (b) through (e) blank and have code "O" in column (f). System won't let me do that.

nwempe
Level 3
In order to generate Code "O" in column (f) I have to input something in the Sales Proceeds and/or Cost Basis columns. Also on Form 4979 I have 2 line items in Part I, line 2 (one of which is related to QOZ gain) but it's not adding the 2 lines together for line 7 total.
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2 Comments 2
Just-Lisa-Now-
Level 15
Level 15

I dont know much about QOZ's, but does this help at all?

https://accountants.intuit.com/support/en-us/help-article/form-1099-b/entering-rollover-qualified-op...


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Terry53029
Level 15
Level 15

I believe QOZ is a Qualified Opportunity Zone (a location), and you are trying to enter a QOF (which is an investment in a QOZ) When you are in the schedule D worksheet double click on any field, and you get a popup to select a new worksheet (Enter the name of the fund) scroll down almost to bottom, and that is where you enter QOF's to defer the gain on a QOF that is invested in a QOZ location 

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