Common questions about Dispositions in Lacerte

Form 4797, 1099-B, Form 8949, Schedule D:

• Entering Sale or Disposition of Assets
• Reporting Form 1099-B cash in lieu of stock to the IRS
• Entering a 1099-B in Lacerte
• Generating Form 8949, column (f) for various codes
• Calculating the capital gains 28% rate in Lacerte

In most cases, cryptocurrency or virtual currency is reported on the tax return in the same manner as property such as stock or other capital gains or losses.

See Frequently Asked Questions on Virtual Currency and Digital Assets Transactions for the IRS guidelines.

If you are reporting Digital Assets transactions in the 1040 return, be sure to mark Yes on the following question:

At any time during 2024, did you: (a) receive (as a reward, award, or payment for property or services); or (b) sell, exchange, gift, or otherwise dispose of a digital asset (or a financial interest in a digital asset)?

Form 6252 - Installment Sale:

• Generating Form 6252 for a Current Year Installment Sale
• Entering a Prior Year Installment Sale Form 6252

Form 8824 - Like Kind Exchange:

• Entering a Like-Kind Exchange (1031 Exchange) from the Dispositions Screen 

Form 4684 - Casualties and Thefts:

• Reporting gains and losses from casualty or theft on Form 4684 in Lacerte
• Generating Form 4684 casualty or theft loss for an individual return in Lacerte
• Why is Form 4684, line 26 printing the line 20 amount?

Schedule D Import:

• Using the Schedule D Import Wizard in Lacerte
• Schedule D tax import 1099-B basis not reporting in Lacerte