Add Form 8949 to the Return
Click the "+" icon to add Form 8949 to the tax return.
Link the Capital Gains Worksheet
Under the Description of Property section, click the gray triangle to link the Capital Gains Worksheet.
Attach Additional Forms (if needed)
Use the paperclip icon to attach any additional supporting forms.
Select the Capital Gains Worksheet
Click on Cap Gn Wkt - Capital Gain/Loss Transaction Worksheet to proceed.
Enter the Payer’s Name
This should be the entity listed on the 1099-B as the issuer, or the name of the individual stock, fund, or asset.
Select the Corresponding Code
Use the client's form to determine the correct code to enter in the 1099 column.
Enter the Dates
Date Acquired: Typically listed as Various
Date Sold: Usually matches the date provided on the 1099-B or the last day of the year.
Enter the Sales Price
This corresponds to the proceeds listed on the taxpayer’s 1099-B form (the amount the asset was sold for).
Enter the Cost or Other Basis
This should match the cost basis listed on the taxpayer’s 1099-B form (the amount the asset was purchased for).
Check for Adjustments or Wash Sales (if applicable)
If no adjustments are needed, you’re done at this step!
If Wash Sales Disallowed is listed on the taxpayer’s 1099-B, follow these steps:
Enter the amount in Column G.
Enter the code "W" in Column F.
Finalize the Entry
Navigate to Schedule D Page 1 and answer the question.
This is generally answered as "No" unless specific instructions say otherwise.
📌 For a more detailed step-by-step guide, check it here:
Tutorial: How to Enter Capital Gains or a 1099B