2018 UltraTax CS
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Question
How do I code the transaction to be reported in the applicable Form 8949 grouping? I don't see a code column with just A, B, or C.
Answer
In the Schedule D / Form 8949 section of the B&D screen (Income folder), use the 8949 Box field in the statement attached to the Schedule for detail field to report the transaction on the applicable unit of Form 8949. The following are the available codes and which unit of Form 8949 the transaction is reported on.
| 8949 Box Code | Form 8949/Schedule D Unit |
|---|---|
| 1 - 1099-B box 3, basis reported to IRS | Box A or D - Transactions reported on Form 1099-B showing basis was reported to the IRS |
| 2 - 1099-B box 3, basis not reported to IRS | Box B or E - Transactions reported on Form 1099-B showing basis was not reported to the IRS |
| 3 - Not reported on 1099-B | Box C or F - Transactions not reported on Form 1099-B |
| 4 - 1099-B box 3, basis reported to IRS, no adjustments | Schedule D - Transactions reported on Form 1099-B showing basis was reported to the IRS and no adjustment is required |
Due to the design of Form 8949 and the IRS matching program, it is important that the 8949 Box column accurately reflect the transaction's situation (such as, it was a 1099-B issued, how was it reported, etc.).
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