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Tax Return options overview

Schedule D

You can choose your desired options for Schedule D settings to ensure the export of capital gain and loss transactions per your preferred settings. Follow these steps to configure Schedule D options.
  1. Select
    FileRoom
     >
    Admin
     >
    Tax Return
    .
  2. Go to the location dropdown and select the office location. The tax return option changes will apply to the selected office location.
  3. Go to the
    Schedule D
     section.
  4. The summary information will always be captured regardless of your choices here. You can choose whether to capture transaction details. To skip the details if the number of transactions in the entire return (not just a single statement) exceeds a particular number, enter that number in the
    Enter summary information if there are more than [] transactions
     box. For example, if you enter 
    15
    , summary information will always be captured. If there are 15 or fewer transactions in the whole return, details will be captured too (per the other following selections). If there are more than 15 transactions in the return, only the summaries will be captured.
  5. The 1st 4 options won't be selectable if you entered
    0
     in the previous step. If you entered a number larger than 
    0
    , continue following these steps.
  6. To combine multiple transactions for the same security within a brokerage account into a single transaction when captured, mark the 
    Combine multiple transactions for the same security within a brokerage account into a single transaction
     checkbox.
  7. For outsource binder types, if you want to skip capturing details when the summary information isn't provided, mark the 
    If summary information is not provided then do not enter the detailed transactions (Outsource only)
     checkbox.
  8. To skip capturing the details of covered transactions if they don't have wash sales, mark the 
    If basis was reported to IRS and there are no adjustments, report in summary of schedule D (lines 1a and 8a) and not on form 8949
     checkbox.
  9. For binders that qualify for summary transactions, you can suppress the "See Attached" text along with its corresponding code for non-covered transactions. To enable this feature, mark the
    Suppress the 'See Attached' text from the transaction description when exporting in summary
     checkbox.
Schedule D
options selected in
Account Admin
will become the default settings for all new binders. However, when creating a new binder, you can select different settings for that particular binder if desired. Settings selected on the
Create New Binder
window override the default settings selected in
Account Admin
.

This article applies to:

  • Product: SurePrep

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