I submitted my taxes but did not realize I would have to file a Form 8949 manually. Can I amend my return to list all sales in TurboTax and refile?

[j-funkkeenan]

I would like to avoid manually completing the form.

[AnthonyC]

You should not need to manually complete the Form 8949.  You likely selected the "Summary Total" method of reporting your transactions.  With this method, you really just need to mail your Form 1099-B statements along with Form 8453 to the IRS.  You do not need to do manual calculations for Form 8949 (the TurboTax instructions reference sending a Form 8949, but with this method of reporting, your 1099B forms substitute for this Form).  You could amend your return to include the individual transactions instead of the summary totals, but you will still need to then mail your amended return along with the forms to the IRS.  So, its likely easiest to just leave the return as is and mail the statements to the IRS.

Here is a more in-depth answer to similar questions relating to this topic - 

The answer below is going to assume that you choose to use the summary transaction method of reporting your 1099B transactions instead of entering individual sales.

Short Answer:  You do not really need to mail Form 8949, but you do need to mail your supporting statements, such as your brokerage statements (Form 1099B) and Form 8453.

When you use this summary method of reporting (i.e. you just entered your totals and not each individual transaction), in some cases, the IRS still wants the supporting details sent to them.  

Note:  In limited situations, you’re allowed to summarize investment sales without providing complete details.  If you are summarizing multiple investment sales that are either Box A sales or Box D sales, and there are no adjustments necessary (i.e. Code W for wash sales), then it is not necessary to mail in a statement with further details.  Turbotax will tell you this when your sales meet the criteria and will not prompt you to mail any statements.

So, if you are being prompted to mail further statements, Form 8453 says to attach 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.

When you use the summary method, TurboTax only produces a Form 8949 with the summary totals that you entered, not the individual transactions, so the Form 8949 that is included in your return is NOT sufficient for this purpose.  (Though, you can include it with the mailing as a reference)

You need to use Form 8453 to mail the brokerage statements that show the details of your transactions.  Statements should include the following items for each transaction (these are usually reported on your Form 1099-Bs:(  

• Description
• Date acquired, 
• Date sold, 
• Sales price, 
• Cost basis, 
• Gain or loss for each sale,
• Sale category based on how the sale was reported to you and the IRS, and
• In some cases, there will be an adjustment code and adjustment amount. 

NOTE: As discussed above, any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS. 

If you are e-filing your tax return, then mail your statements along with Form 8453 to: 

Internal Revenue Service

Attn: Shipping and Receiving, 0254 

Receipt and Control Branch 

Austin, TX 73344-0254 

[aborshov]

I selected the "summary total" option and TurboTax had me upload the broker statement with individual transactions. My understanding is that this would be included with my filing so I don't have to mail anything. Is this correct or do I really need to mail it in? The software really should notify people of this when making the selection.

[DianeC958]

If your stock sales show that they are covered sales (the basis is reported to the IRS), you can include summary information in your tax return and not mail the 1099-B to the IRS.

If you have stock sales where the basis is not reported to the IRS then you need to mail the IRS your 1099-B, or list those sales separately in your tax return, so they appear on from 8949.  If those sales are listed separately in your return, you do not need to mail your 1099-B to the IRS.

@aborshov

[traderjosefina]

HUGE FAILURE on the part of Intuit / TurboTax for not having a blaring warning on this page that by entering a summary you will need to mail in your STATEMENT (with our account information on it?) or manually write out each transaction and mail it separately from a tax payment to the IRS.

Why did TurboTax think this was a good idea?

Why would anyone choose to enter a summary if they knew that they had to subsequently mail this?

Why isn't there a warning before finalizing taxes saying "are you SURE you don't want to enter your gains and losses here because you'll have to mail it in separately." There is a warning after filing...the whole thing is such a big failure.

Because of this investment in time and effort and the accompanying annoyance, I may not use TurboTax last year. (They wouldn't let me edit my review so this is serving as an addendum to my review.)

[abhi_agr]

Totally agree that Turbo Tax should generate the warning. I also faced the same dilemma. I chose to enter summary since I did not know I would need to mail the transactions later.

Also, in these times of Covid, I am not sure of mailing is a good idea.

Any clue what happens if somehow IRS do not receive my mail or they receive but somehow miss to add it to the return on their side?

[DawnC]

You can add the form but only if you have not already mailed your return.  If you already mailed your return, e-filing will cause longer delays.  

How do I change from mail to e-file in TurboTax Online?

You can use Where's My Refund even if you filed by mail.   

[abhi_agr]

I have e-filed my return using Turbo Tax Deluxe. Now I have to mail Form 8949 with Form-8453. I am worried what if something goes wrong and IRS sends me notice to get it all together. In such times of COVID, when IRS does not have full employees presence, the chances of this happening are high

[DawnC]

If you have successfully e-filed your return and it has been accepted, they have it and won't ask for it again.   

For added peace of mind, you can buy a Certificate of Mailing at the Post Office. A Certificate of Mailing is a proof of mailing receipt that proves you mailed your tax return (or Forms 8949 and 8453)  on a certain date.

After you send your taxes, keep your receipt in a safe place. The Postal Service® does not keep copies of receipts. If your return is delayed or lost, the postmark will not be available, but your Certificate of Mailing receipt will prove that you mailed your return on time.

Certificate of Mailing Service

The Treasury Department and the IRS are providing special relief to all taxpayers and businesses in response to the COVID-19 Outbreak: Tax Day has been moved from April 15 to July 15, 2020.    All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.

See full details about the filing and payment deadline on the IRS website.

Mailing Tips

• Send to the Correct Address
  Check the IRS website for where to mail your tax return. Write both the destination and return addresses clearly or print your mailing label and postage.
  Where to Send Paper Tax Returns
• Use Correct Postage
  Weigh your envelope and apply the right amount of postage. Most tax returns are several pages long and weigh more than 1 oz. Tax returns sent without enough postage will be returned.
• Meet the Postmark Deadline
  If your tax return is postmarked by the filing date deadline, the IRS considers it on time. Mail your return in a USPS blue collection box or at a Postal location that has a pickup time before the deadline. Some Post Office™ locations offer extended hours and late postmarking for tax filers. Call a Post Office near you to find out if it will be open late on tax day.
• Find USPS Locations

[yzhao334]

Is that possible to amend 8949 and related 1099b electronically? It seems IRS is taking electronic amendment after 2019. I don't want to mail the forms if that is not necessary.

[AmyC]

See About Form 8949, Sales and other Dispositions of Capital Assets should have been a part of your tax return. If you used consolidated statements, then you need to mail the 1099-B forms with the 8453 to the IRS.

Please review the form instructions and your return to see what is needed.

@yzhao334