@Mike9241 You have a legitimate point. Honestly I would prefer not to mail in 600+ pages of a detailed 8949, if I was aware of an alternative option. But after much research, it seemed like the only way due to the following limitations:
- In 2021, I made 2500+ trades in stocks/options across several trading accounts.
- Could not rely on uploading 1099B into Turbotax, or entering 1099B totals, because brokers do not report wash sales (i.e. adjustments) between stocks/options of the same ticker, and wash sales of the same ticker between different trading accounts. Hence the usage of a third party trade accounting software to consolidate trades, calculate accurate subtotals/adjustments for the e-file 8949, create a detailed 8949 pdf, and creating a digital file detailing each trade to be uploaded in a tax preparation software.
- Unfortunately TurboTax desktop (and online) can not handle the import of 2500+ trades. I forget what the limit is (400 trades?). TurboTax also does not support uploading pdfs. Thus entering totals on my e-file 8949, and mailing in detailed 8949 appeared to be my only option.
- Note although my Box D transactions did not have any adjustments, the trade accounting software has limitations too. I can not easily filter out Box D transactions from the reports. I would have to delete them completely from the program, and that seems ripe for a disaster since I have Box E transactions mixed in.
If you have suggestions on how to better go about this, please do share. I will face the same situation in tax year 2022. Thank you.
