rjs
Level 15
Level 15

Get your taxes done using TurboTax

@baballew 

 

You don't have to enter all the individual sales in TurboTax. You can make summary entries. Select "I'll enter a summary for each sales category." Then you enter just the total proceeds and total basis for each category. The four possible categories that you would have are:

  • Box A - Short term covered
  • Box B - Short term noncovered
  • Box D - Long term covered
  • Box E - Long term noncovered

"Covered" means basis was reported to the IRS. For sales with basis reported to the IRS (covered sales) that's all you have to do. For sales with basis not reported to the IRS (noncovered sales) you have to print a copy of the pages of your Fidelity statement that show the 1099-B details for the noncovered sales and mail it to the IRS. Since you are filing for a past year you have to file by mail, so you just attach the copy of the 1099-B pages to your tax return (at the back).