Yes, you can use the summary method in a 1099-DA you create. The key is to report short term and long term holding summaries separately. See the holding periods below. Use an acquired/purchase date to represent the correct holding period. If they are all short term you can use one total for all. If not you will need a minimum of two entries (two 1099-DA forms).
The key to you are entering the required income on your tax return and keep your backup. You may have to mail Form 8949 and Form 8453. How do I mail Form 8453? (review if alerted)
Holding Periods:
- Long term is a holding period of more than one year (one year plus one day) 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)
@mhdutch
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