- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
TurboTax produces Form 8949 for the short-term sales because Form 8949 is required when there are adjustments. There is no way to show adjustments except by using Form 8949.
What you have to send to the IRS is not just Form 8949. You have to send the details of all the individual sales, not just a summary. You can do that by entering each individual sale on Form 8949, or by sending a statement containing the same information as Form 8949 in a similar format. Most people satisfy this requirement by sending a copy of the 1099-B section of the brokerage statement that lists all the individual sales.
Even if TurboTax put the summary of your long-term sales on Form 8949, you would still have to send the detailed listing of the individual sales to the IRS. What the IRS wants is not Form 8949. They want the details of the individual sales, either on your tax return (on Form 8949) or in a separate statement.