Using H&R Block Deluxe 2013. This is my first time dealing with sales of stock (1099-B). I thought I had to make adjustments in sale price for selling fees. So, on the 'Sale of Stocks and Other Assets (1099-B)' screen, I did the following:
1. click Add Asset
2. entered description, date acquired, basis, date sold, sales price then, in 'Special type' selected 'E', then next.
3. left 'Box 1c' and 'Box 6b' unchecked. clicked next
4. entered sale expense, clicked next
5. sent back to 'Sale of Stocks and Other Assets (1099-B)' screen added more assets.
Later I learn that I should not have selected special type 'E'. So I edit the asset(s):
6. clicked 'Edit'
7. change 'Special type' from 'E' to 'No special type', then clicked next
8. left 'Box 1c' and 'Box 6b' unchanged. clicked next
9. sent back to 'Sale of Stocks and Other Assets (1099-B)' edited the other assets.
Then continue with Federal return and finish. The software says everything is okay. New to selling stock and being cautious, I print the forms first and look them over.
Now the problem:
Form 8949: there are numeric entries in some of the '(g) Amount of adjustments' column BUT there are no codes in the '(f)' column.
A. That should never happen, period. The instructions above columns f and g imply this.
B. Investigating I find that if I edit the assets that have numbers in column (g), and change the 'Special type' back to 'E' then 'next' then 'next' - the sale expense screen is showing the number that was printed on the form. So, the only way to fix this is to edit each bad asset twice: once to select special type 'E', then delete the expense. Then again to change special type back to no special type. Pain in arse.
Here are my suggestions:
1. If no special type is selected, then any expense should ignored OR the program should notify user and delete any previous expense that was entered.
2. More information on the 'Sale of Stocks and Other Assets (1099-B)' should be provided so it is easier to identify assets already entered. Seeing 7 assets description of 'AssetName' with all having the same basis and gain(loss) is of ZERO help. I would be helpful to list the acquired date and the sale date. Then it would be possible to go down the list and verify that all the assets have been entered.
Does H&R Block compensate users for reporting problems that could cost them time and money? After all I spent about an hour trying to figure this problem out.