kaneohe wrote: ↑
Thu Mar 14, 2019 10:34 pm
dratkinson wrote: ↑
Thu Mar 14, 2019 6:06 pm
Related question. Is the form 8949 required for covered shares?
I ask because my Sch D is populated with the correct totals from the 1099Bs reflecting ST and LT sales, but the ST and LT forms 8949 did not print with my draft tax return. (If it matters, I'm using OLT, not TA this year.)
This is one of the questions I need to resolve before finalizing my returns.
see lines 1a/8a of Sch D https://www.irs.gov/pub/irs-pdf/f1040sd.pdf
which say that if basis is reported to IRS and adjustments are necessary, only Sch D is needed w/o 8949
Thanks. I must have known this answer at one time, but forgot it.
Going back through my old tax returns I see I had similar omitted form 8949s in 2016. But at the time I was also dealing with selling uncovered shares and Vanguard's website cost basis not agreeing with its mailed 1099Bs, and neither agreeing with my Excel cost basis. Good times.
Now kinda wish I had the old form 8949s, just for documentation. If needed, it'd be simpler than rooting through envelopes looking for old 1099Bs.
The tax s/w prints several worksheets for information, that are not included with our tax return. I see I have 3 this year: SS Benefits ws, QDI and CGs Tax ws, and Statement of Carryover.
So may try to trick the s/w into printing my 8949s for the covered shares by entering code B (cost basis adjustment) and a $zero adjustment, to see if that will fool it into printing them. Then remove the adjustments before filing.
Or maybe it would be simpler to send an email to the OLT CSR and see if I can set an override to cause the s/w to print the form 8949s for documentation.
I'll try both ways when I get to the library this weekend.
d.r.a., not dr.a. | I'm a novice investor, you are forewarned.