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New Member
posted Mar 26, 2025 2:24:14 PM

A few brokerages don't report to the IRS. Instead of entering every transaction on a form 8949, am I required to print a copy of all transactions and email to the IRS?

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4 Replies
Expert Alumni
Mar 26, 2025 2:34:56 PM

If you have some sort of account that has no reporting to the IRS - or you are summarizing transactions where the basis was not reported, you have to either enter every transaction on the 8949 or send a printed statement along with Form 8453 by mail (not email) to the IRS.  You can still e-file your return, but you would need to send the details to the IRS by regular US mail.  

Click here for the details on how to mail it in.

New Member
Mar 26, 2025 6:11:37 PM

Thank you, do I still add the cost basis up myself and put it in there or just leave it blank and the IRS will calculate it when I send the information in? just wondering whether or not to go ahead and put it on the form since I know what the cost basis is, I just don’t have proof of it. Thank so much for the great answer!

Level 15
Mar 26, 2025 6:18:31 PM

Yes, you need to enter your basis for transactions that are missing it. Otherwise, your taxable income will likely be overstated, and you will owe more in taxes. The IRS does not have a record of your basis, and even if it did would not make corrections. 

Expert Alumni
Mar 30, 2025 7:43:00 AM

Within the entry of the IRS form 1099-B information, enter the cost basis.  Follow these steps.

 

  1. Enter the information.  Select The cost basis is incorrect or missing on my 1099-B.  Continue.
  2. At the screen We noticed there's an issue with your cost basis, select I know my cost basis and need to make an adjustment.  Continue.

 

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