What if I have a Form 8949 or my 1099-B talks about Form 8949 Type?
Menu Path: Income > Common Income > Investments and Savings (1099-INT/DIV/B/DA)
Some 1099-Bs and consolidated 1099s reference "Form 8949 Type" and then have a letter listed. These letters match the letters listed in the software when entering a Form 1099-B as a summary.
Example: Your consolidated 1099, in the summary of proceeds, shows "Form 8949 Type A" meaning short-term basis reported to the IRS (covered). You enter your sales as a summary and choose option A Short-term basis reported to the IRS (covered) as the Sales Section. If you had other Form 8949 Type letter codes in the summary of proceeds, you would enter a summary investment sale for each of them.
Sometimes companies will issue you a Form 8949 for you to enter or include on your tax return. In that case you'd enter a summary investment sale of the totals (Form 8949, Line 2) for each Form 8949 letter checkbox.
Example: You receive a Form 8949 from a company that creates them for crypto transactions. You see that the first page of the Form 8949 has (Box A) Short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS" checked. You enter the totals from Form 8949, Line 2 as a summary and choose A Short-term basis reported to the IRS (covered) as the Sales Section. If you have more pages of Form 8949 with different letter codes, you'd enter a summary investment sale for each of them.
Some 1099-Bs and consolidated 1099s reference "Form 8949 Type" and then have a letter listed. These letters match the letters listed in the software when entering a Form 1099-B as a summary.
Example: Your consolidated 1099, in the summary of proceeds, shows "Form 8949 Type A" meaning short-term basis reported to the IRS (covered). You enter your sales as a summary and choose option A Short-term basis reported to the IRS (covered) as the Sales Section. If you had other Form 8949 Type letter codes in the summary of proceeds, you would enter a summary investment sale for each of them.
Sometimes companies will issue you a Form 8949 for you to enter or include on your tax return. In that case you'd enter a summary investment sale of the totals (Form 8949, Line 2) for each Form 8949 letter checkbox.
Example: You receive a Form 8949 from a company that creates them for crypto transactions. You see that the first page of the Form 8949 has (Box A) Short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS" checked. You enter the totals from Form 8949, Line 2 as a summary and choose A Short-term basis reported to the IRS (covered) as the Sales Section. If you have more pages of Form 8949 with different letter codes, you'd enter a summary investment sale for each of them.
