Question - Filed an Amendment Electronically with TurboTax Desktop version

[jsbieber1]

I forgot a 1099-B when I filed my federal return but caught it pretty soon thereafter. I have already received my refund. I went into TurboTax (Desktop edition) and went through the process of filing an amendment and adding my missing 1099-B. TurboTax gave me the option to file electronically which I did, and the government already accepted it. TurboTax also gave me the option to have the funds deducted from my bank account on file to pay the tax back to the government for the missing 1099-B.

TurboTax software gave conflicting messages. When I finished filing the amendment it said to mail in form 8453 and it filled it out for me with the last box checked. That form says to "FILE THIS FORM ONLY IF YOU ARE ATTACHING ONE OR MORE OF THE FOLLOWING FORMS OR SUPPORTING DOCUMENTS." The last box that is checked identifies the attachment required in my situation, which is Form 8949. However, that check box for form 8949 attachment also indicates that the attachment of Form 8949 alongside form 8453 is only necessary .."if you elect not to report your transactions electronically on Form 8949."

My question is this, does TurboTax software submit these forms electronically when I filed the amendment electronically via the software? In other words do I still need to mail in Form 8453 and attach form 8949, or was that all done electronically? Initially I thought I needed to mail it but then I figured it must have done it electronically or it wouldn't have been "accepted" by the IRS and marked complete. I'm assuming at this point they'll deduct the amount from my bank account on file as I selected, and I don't need to mail these in manually.

Can anyone help me answer this for certain.

[MarilynG1]

If you entered your individual transactions from your 1099-B, your Form 8949 should list them.  If this applies, you don't need to mail anything. 

If you used the Summary Method for entering your 1099-B in TurboTax, your Form 8949 will have summary totals for ST, LT, Wash Sales (if applicable).  In this case, you would need to mail your 1099-B along with Form 8453. 

If you're e-filing, you only need to mail the IRS a copy of your 8949 (along with Form 8453) if you entered sales section totals for one or more sales categories (instead of each individual sale) and one of the following is true:

• The sales category for one or more summaries is something other than box A (short-term covered) or box D (long-term covered), or
• The box A or box D summary includes adjustments (typically listed in boxes 1f or 1g on your broker statement)

Here's more info on Mailing Form 8949. 

[jsbieber1]

Thank you. I used the summary method and just put the total for the entire 1099-B. Each sale was under the category noncovered short-term. For some of the individual line items there wasn't a cost basis. They were digital rewards from a credit card. Those rewards were converted to USD and cashed out. I have no way to calculate cost basis for those, so I did summary method and used the summary totals provided on the 1099-B. There were those totals provided even though there weren't individual cost basis for some line item there was a "total" for cost basis overall. Each category was uncovered short-term.

I did e-file this. But, I'm not sure what you mean by "..if you entered sales section totals for one more sales categories.."? And, for the other part of the true statement, yes, one of the bulleted items you listed is true. For example, I do meet the criteria of your first bullet point. The sales category for one or more summaries was short-term uncovered. They were all short-term uncovered, and I did e-file the original return, and the amendment.

So if I understand you correctly, I should mail the 8949 along with 8453, but don't need to include the 1099-B?

[AmyC]

Correct. You had summary totals that were short term noncovered. The IRS already has the 1099-B. They want to see how you summarized and the basis you created.

[jsbieber1]

Well, that's part of my concern. I have no cost basis. I didn't create any cost basis. I just took the provided summary totals from the 1099-B on the amendment. I'm getting ready to mail this. Do I include the 1099-B or not? I'm assuming they have already been mailed a copy.

[JulieS]

Yes, you need to mail in the 1099-B because you used summary totals in your e-file. Click here for more details.