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Get your taxes done using TurboTax
In TurboTax Premium Online, you may elect to report summary information and upload a PDF file.
Your brokerage statements should include a summary of your transactions, grouped by sales category, for example, Box A short-term covered or Box D long-term covered.
You will enter the summary info instead of each individual transaction. Follow these steps.
- At the screen Your investments and savings, select Add investments.
- At the screen Relax. We got it, select Continue.
- On the Let's import your tax info screen, select Enter a different way.
- On the OK, let's start with one investment type screen, select Stocks, Bonds, Mutual Funds, then Continue.
- At the screen Which bank or brokerage, enter the information.
- Do these sales include any employee stock, enter No.
- Do you have more than three sales, enter Yes.
- Do these sales include any other types of investments, enter No.
- Did you buy every investment listed, enter Yes. Continue.
- On the screen Now, choose how to enter your sales, select Sales section totals. Select Continue.
- At the screen Look for your sales on your 1099-B, select Continue.
- You will now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your IRS form 1099-B, IRS form 8949 and / or Schedule D Capital Gains and Losses for the amounts and category. When finished, select Continue
- You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen.
- When completed, close the record and click Continue.
- At the screen Now, we'll help you upload your 1099-B since the IRS requires a copy, browse and select your document. Select Continue.
- When you upload your document, your filing instructions will not show that anything needs to be mailed in, and no IRS form 8453 will be generated.
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‎February 4, 2024
7:20 AM