Form 8453_Urgent ISSUE

Forum|Forum|5 years ago
March 4, 2021
1 reply
7 views

I have received this message from Turbotax

"What You Need to Mail"

Form 8453

When I look at my finalized TurboTax, it has FORM 8453

This was selected

Form 8949, Sales and Other Dispositions of Capital Assets (or a statement with the same information), if you elect not to report your transactions electronically on Form 8949

I don't understand this because I want to report this transaction electronically.

Also, I have Form 8949 which has all my 1099 information.

Do I just print Form 8453 and send it to IRS, which has a checkmark on that I elect not to report my transactions electronically on Form 8949?
and

Do for the 8949, Sales and Other Dispositions of Capital Assets
Do I have to fill out all the transaction and send it to IRS?

I am very confused why this is coming up for Turbotax

DavidD66

Level 15

It sounds like you may have elected to enter your stock transactions as summary totals. This requires that you mail a copy of your Form 1099-B showing each stock transaction to the IRS, along with Form 8453, which is used to identify the return the 1099-B goes with. Just print the 8453 and a copy of your 1099-B, and mail to the IRS address indicated.

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MM_97Author

Level 2

Thank you very much for your reply,
so what I have to send to IRS is
1. 1099-B

2. 1099-B (crypto)

3. Form 8453

and

4. Form 8949 (Do I have to send this form also, which I have more than 10pg )

To confirm, Form 8949 does not need to be sent?

Thank you.

WendyN2

Level 9

If you e-file your return but choose not to report each transaction on a separate row on the electronic return, you must either (a) include Form 8949 as a PDF attachment to your return, or (b) attach Form 8949 to Form 8453 (or the appropriate form in the Form 8453 series) and mail the forms to the IRS. (However, you can't attach a paper Form 8949 to Form 8453-FE.) You can attach one or more statements containing all the same information as Form 8949, instead of attaching Form 8949, if the statements are in a format similar to Form 8949.

As the safest bet, I always tell the taxpayer to mail the following:

A copy of the 8949 prepared by the tax software you are using and submitted with your e-filed return (and follow instructions above with respect to 8453 if it applies to you)
All pages of your brokerage statement(s)
A copy of the Schedule D prepared by the tax software you are using and submitted with your e-filed return.

PLEASE NOTE: You must mail these forms and statement(s) within 3 days of e-file acceptance. I always highly suggest that you mail via Certified Mail/Return Receipt Requested as this is your receipt for proof of date of mailing, as well as the fact that you mailed it and it was received by the IRS (this will be the “green card” you fill out and attach to your package that will get signed by an IRS Agent and mailed back to you).