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Pastimes : Investor Accounting

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From: HIA3/7/2012 9:15:12 PM
   of 19
 
I might as well keep going on this Form 8949 subject.

If there are any wash sales listed on the 1099-B then just input the 1099-B into the IRS 8949 pdf that can be saved. The reason for this is that while the wash sale is noted on the 1099-B and then the adjustment performed on the Form 8949, a future correction of the wash sale is not noted on the 1099-B but simply the cost basis is adjusted without note.

(I did send the IRS a comment E-Mail and asked them to change the Form 8949 such that all cost basis adjustments would be performed on the form.)

A couple of techniques to make input into pdf 8949 easier would be copy and paste of dates and input of numbers without commas so that the keyboard number pad can be used.

Then the month-by-month accounting that is based on brokerage statements or on transaction confirmations is only used as a partial checking of the tax accounting.

Now if there are no wash sales on the 1099-B then the user might want a KBH Supp App that would output the month-by-month (or transaction-confirmation-by-transaction-confirmation) accounting in a form similar to 8949 so that the user could make their own forms. And okay, I can add that in a week or two. But if the user does make their own 8949 just note that it has to include the check-boxes.

If the user files with Form 4797 then this new Form 8949 doesn't apply.
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