I have a 1099-B containing over 50 rows of RSU sales, so entering them into TurboTax one at a time would be extremely time-consuming. Since I don't have any wash sales or tax withholdings that would result in a "missing cost basis," I went ahead and entered the proceeds total and cost-basis totals instead.
I know per the IRS instructions for Form 8949 Part I, Exception 2 allows reporting the transactions on a separate attached statement. That seems to be what TurboTax tries to do when I chose to enter totals instead; when I preview my tax returns, I see it entered into Form 8949 line 1 "CHARLES SCHWAB & CO., INC. - see attached statement". But when I look for the attached statement in my previewed return, I can't find it anywhere. What title does the attachment have or what should I be looking for? I even tried to Ctrl+F for "attachment" or "statement" or "Schwab" and couldn't find any attached statement. I'm concerned TurboTax won't be correctly providing this.
As a second question: I do also see from slightly lower on the same IRS page slightly, the E-file section says, "If you e-file your return but choose not to report each transaction on a separate row on the electronic return, you must attach Form 8949 to Form 8453 (or the appropriate form in the Form 8453 series) and mail the forms to the IRS." But on TurboTax's cover pages on my tax return ("Electronic Filing Instructions for your 2024 Federal Tax Return"), I don't see any instruction from TurboTax that I'm supposed to mail something in addition to my e-file. Does TurboTax end up mailing the form on my behalf, or do I actually need to take action? Or am I misinterpreting and I don't actually have to mail anything?
- Note: I recognize that if "Exception 1" was applicable, the IRS says there's no need to mail anything: "However, this doesn't apply to transactions that qualify for Exception 1". But my RSU sales don't qualify for Exception 1 because that requires the broker to have reported basis to the IRS, and my 1099-B says basis was not reported.
