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Form 8949 part I and part II

You can use Form 8949 to reconcile the
1099-B
 or
1099-S
 amounts. It's used in calculating Schedule D lines 1b, 2, 3, 8b, 9, or 10. For complete filing requirements and instructions from the IRS, refer to About Form 8949. The IRS lets you choose between completing Form 8949 or submitting a substitute statement. If you want to submit a substitute, refer to Attaching a Form 8949 substitute to Form 8453. Otherwise, use the following information to complete your Form 8949 data entry in UltraTax CS and include the form with the return.

Form view

Per the IRS, UltraTax CS creates a separate Part I for each type of short-term transaction (Box A, B, or C) and a separate Part II for each type of long-term transaction (Box D, E, or F).
Do the following to view your Form 8949 amounts:
  1. Go to the Forms view.
  2. Select the
    8949
     folder. If the folder isn't available, right-click and select
    Display all forms
    .
  3. Inside the
    8949
     folder, the system groups transactions as follows:
    1. Basis reported to the IRS: Shows Box A and D transactions.
    2. Basis not reported to the IRS: Shows Box B and E transactions.
    3. Basis not reported on 1099-B: Shows Box C and F transactions.

Data entry

Data entry is available in these locations:
  • Income
     folder
  • B&D
     screen, Schedule for detail statement in the Schedule D/Form 8949 section
  • Broker
     screen, then the Proceeds from broker transactions statement
  • 1099C
     screen
  • Retirement
     folder
  • 1099R
     screen
  • K1 1065, 1120S
     folder
  • K1-7
     screen, then the Purchase history and Sales information statement
  • There may be other input that transfers through the Shareholder or Partner Basis worksheet that triggers Form 8949.
  • Personal Sale
     folder
  • Home
     screen
  • Sale
     screen
warning
Don’t enter the same transaction on multiple screens.

Types of transactions

Refer to Form 8949 instructions for a complete list of transactions that you'll need to report on Form 8949.

Part I and part II

Short-term transactions show on page 1, Part I, and long-term transactions show on page 2, Part II. UltraTax CS automatically determines the holding period.
  • Income folder:
    • B&D
       or
      Broker
       screen: UltraTax CS automatically labels transactions as short-term or long-term based on the
      Date acq'd
       and
      Date sold
       fields. To force a transaction to be short-term or long-term, use the
      Force
       field.
    • 1099C
       screen: UltraTax CS uses the
      Date acquired
       with the dates on the 1099-C or 1099-A facsimile to determine whether the holding period is short-term or long-term.
  • Retirement folder:
    • 1099R
       screen: UltraTax CS puts the transaction on Part II for long-term transactions. This is per the Form 8949 instructions. If the transaction isn't showing, make sure you have an amount in box 3 and distribution code F.K1 1065, 1120S folder.
    • K1-7
       screen: UltraTax CS uses the purchase date (in the Purchase history statement) and the disposition date (in the Sales information statement) to determine whether the sale is short-term or long-term.

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