Retirement tax questions

Yes, you may summarize stock transactions.  Here is the procedure.

1. Open or continue your return.
2. Go to stock sales.
3. Answer Yes to Did you sell any of these investments in 2024?
   • If you land on the Let’s finish pulling in your investment income screen, select Add investments.
4. On the Let's import your tax info screen, select Enter a different way.
5. On the OK, let’s start with one investment type screen, select Stocks, Bonds, Mutual Funds.
6. Continue through the interview and select Enter sales totals instead when prompted.
7. You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and categories. When finished, select Continue.
8. You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen.

Once you entered the information, you may electronically file the return but there are additional steps you may need to make after filing.

1. You may need to mail Form 8949 along with Form 8453 and copies of your broker's year-end statements that show the individual transactions. This is required if your summaries include adjustments (like wash sales) or if the transactions fall outside certain categories (e.g., Box A or Box D transactions without adjustments).
2. Exceptions: If your transactions are in categories A or D (short-term or long-term covered transactions without adjustments), you may not need to mail additional documentation. TurboTax will inform you whether you need to mail in this additional information.
3. Sometimes, you can use your broker's year-end statements instead of Form 8949. Make sure they have all the required information and are similar to Form 8949.