It depends on what you want to do. You can do one entry for each cost basis of the same stock but the most important action is to keep long term and short term sales separated. It's all right to summarize one sale for each period, by keeping the long term separate, then TurboTax knows the best tax advantage for you when the long term sales have a gain. There is a reduced tax on long term capital gains.
- Long term is a holding period of more than one year 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)
If you are e-filing your tax return, then mail your statements along with Form 8453 to the following address within three days after the IRS accepts your tax return:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
