If you are able to successfully e-file your tax return(s) and they are Accepted, you may complete, print and mail Form 8453, U.S. Individual Income Tax Transmittal for an IRS e-file Return and a copy of Form 1099-B. Furthermore, if you enter a summary in lieu of individual transactions, TurboTax should generate both Schedule D and Form 8949 with summarized information. Please review the following for more information:
Mailing Instructions
The last box says, "Form 8949, Sales and Other Dispositions of Capital Assets (or a statement with the same information), if you elect not to report your transactions electronically on Form 8949."
Thus, you may complete (TurboTax may automatically complete), print and mail Form 8453 and a copy of Form 1099-B. See "When and Where To File" on Form 8453 Page 2.
If you compared Form 8949 to Form 1099-B, they would both report the following for each sale listed:
- A Description
- Date Acquired
- Date Sold
- Sales Price
- Cost Basis
- Gain or loss for each sale
- A sale category based on how the sale was reported to you and the IRS
In some uncommon cases, there will be an adjustment code and adjustment amount.
NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.
Here's how to mail your statements:
If you are e-filing your tax return, then mail your statements along with Form 8453, U.S. Individual Income Tax Transmittal for an IRS e-file Return to:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
If you are not e-filing, then mail your statements with your entire tax return to your local IRS office. (Where
to File Paper Tax Returns With or Without a Payment)
How to enter a summary in lieu of individual transactions
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'll enter the summary information instead of each individual transaction.
- If
you are using TurboTax Online, sign in to the appropriate TurboTax account
and select Take me to my return. If you are using TurboTax CD/Download, open the appropriate tax return.
- In the upper right corner,
type "stock sales" in the Search/Find/Search
Topics (upper
middle for Mac) box and then select the "Jump
to" link in the search results (no "Jump to" link in
Mac).
- Answer Yes to both Did you sell any investments? and Did you get a 1099-B?
- If you land on Here's the investment sales info we have so far, select Add More Sales. Then answer Yes to Did you get a 1099-B?
- On the Choose Your Bank or Brokerage import screen, select I'll type it in myself.
- Select or enter your brokerage on the next screen and continue.
- On the following screen (Tell us about...) select the second option, I'll enter a summary.
- On the same screen, enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Done.
- Follow the onscreen instructions to enter additional sales or to view a summary.
When you are done entering all your sales transactions, you'll eventually come to the Here's the investment sales info we have so far, screen. Here you can edit, delete, or enter more sales.
