It may be that you could enter summary totals if you are unable to import your file. The information is here for you and if you have a .CSV file you could sort it to have short term sales together and long term sales together. You may already know the difference but the information is placed here for convenience.
- Long term is a holding period of more than one year and receives capital gain tax treatment (0%, 10%, 15%, 20% depending on your regular rate of tax)
- Short term is a holding period of one year or less and receives ordinary gain tax treatment (your regular rate)
The steps to enter a summary of your sales transactions is provided below.
- Open or continue your return (if it's not already open) and search (upper right) for the phrase stock sales > Press enter
- Select Jump to stock sales > Click on Add investments > Continue on the 'Get ready to be impressed' screen (TurboTax Online) > Continue
- Select Enter a different way > Select Stocks, Bonds, Mutual Funds, et, > Continue
- Enter your financial agency information > Continue
- Answer the questions asked > Continue to Now, Choose how to enter your sales
- Select Sales section totals > Review the information on the next screen > select Continue.
- You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category (Long or Short term, covered or noncovered).
- Refer to your 1099-B for the amounts and category. When finished, select Continue.
- When you are done, you will see Now we'll help you upload your 1099-B…. (or transaction details) either must be in pdf format (you can skip and return later to upload your pdf if you create one)
- Next, select how you plan to submit your 1099-B > Continue
- You will return to Your investments and savings list for review or edit > Confirm at the bottom
- Here's a summary of your broker sales screen where you can edit, delete, or enter more sales.
If you are e-filing your tax return, then mail your statements (1099-Bs or other document showing detailed sales information) along with Form 8453 to:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
If you need a blank Form 8453, you can download this pdf, enter your address information and check the box for Form 8949 (this form is really just a cover sheet)
@lakeviewlivin
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
