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Reporting Form 8949, Exception 2 each transaction on a separate line in Lacerte

by Intuit Updated 3 months ago

This article will help to report multiple disposition items without entering each one separately in the individual module, such as a stock summary.

Part 1: To enter the Exception 2 to reporting each transaction on a separate row in the individual module:

  1. Go to Screen 17, Dispositions.
  2. Enter the name of the broker in Description of property.
  3. Enter negative dates in Date acquired and Date sold
    • Negative dates = various, for example: -D/M/YYYY
  4. Select the box Summary from attached statement (in the top quick entry section).
    • By selecting this box, Lacerte will:
      • Generate See Attached Statement after the broker's name.
      • Generate Form 8453 (if the return is set for e-file). If you are e-filing the return and would prefer to attach the statements as PDF rather than paper filing with Form 8453, leave the box Summary from attached statement selected and see the attached PDF instructions below.
  5. Enter the totals in:
    • Cost or basis
    • Sale price
  6. Once all information has been entered, you should review Form 8949 to make sure the data is accurate.

Part 2 - To attach the Form 8949 statements or statements that contain all the same information as Form 8949 as PDF (and suppress form 8453):

  1. Go to Screen 4, Electronic Filing
  2. Select the section e-file PDF/Miscellaneous from top-left panel.
  3. Select PDF Attachment > then Attach PDF.
  4. Select Browse Files, locate the file on your computer, and select Open > OK.
  5. Select on the Link to form (defaults to main form) dropdown menu.
  6. Select the + next to Form 8949.
  7. Select Form 8949 Exception Reporting Statement.

Once you have attached the PDF documents and linked to Form 8949 Exception Reporting Statement, Lacerte will suppress Form 8453 from generating.

Don't enter Available upon request and summary totals instead of reporting the details of each transaction on Part I or II or attached statements.

Related topics

Lacerte Tax

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