There seem to be multiple ways of entering stock transactions on the Schedule D. What are all of the options available to me?
Alternate ways to enter Stock Transactions for the Schedule D
There are five primary ways of entering stock transactions on the Schedule D:
- Manually enter the transactions in the Capital Gains and Losses Condensed Entry Table (Prior to tax year 2013 this is referred to as the Capital Gains And Losses Smart Worksheet) or Capital Gain (Loss) Transaction Worksheet as appropriate. If you are manually entering Employer Stock please review the following article: Reporting Sales of Employer Stock.
- Enter the Stock sale totals on the Capital Gain (Loss) Transaction Worksheet and attach a stock statement with details to the return if paper filing, or attach the stock statement with details to the Form 8453 and mail the information separately when e-filing. New for tax year 2012, you can even attach the stock detail as a PDF to the electronic Federal return. For detailed input information please review the following article: Entering Multiple Transactions on the Schedule D
- Utilize the Tax Import feature to download the 1099-B information directly from the Financial Institution. For detailed information on importing the 1099-B from the Financial Institution please review the following article: How do I Download Financial Institution Data into ProSeries using ProSeries Tax Import? A full list of Financial Institutions that you can import from is found here: Which Financial Institutions are Currently Supported by ProSeries Tax Import Data Downloads?
- Use the Tax Import feature to scan the 1099-B or stock statement and import the scanned data into the return. For detailed information on working with scanned imports please review the following article: How do I Import Scanned Source Documents with ProSeries Tax Import?
- If using ProSeries Professional Edition (Not available in ProSeries Basic)You may also enter the data using Quick Entry Mode by selecting the File menu then choosing Go to QuickEntry Mode. Once in Quick Entry Mode select the Sheets Menu at the top of the ProSeries Program and choose Select Sheets. When the Quick Entry Sheets menu appears choose item 30 Stock Sales and you will be able to enter your transactions.
***Note: New for Tax Year 2014 the Tax Import Download option is available in both ProSeries Professional and ProSeries Basic. The Tax Import Scan option is only available in the Professional Program.
Please note ProSeries Technical Support cannot provide tax advice or advise you on tax specific treatment
You may wish to ask your tax specific questions on the ProSeries Online Community