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Retirement tax questions
A couple years ago, TurboTax changed the prompts and not in a good way.
If you enter Summary info for any Sales Category other than A and D, or for A or D with adjustments, you will be making the mail-in election perhaps without realizing it.
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IRS requires details to be listed on Form 8949,
or on your own forms (e.g. consolidated 1099-B) which have the same information and in the same manner as Form 8949.
Either way, if you choose to summarize, you have to mail the transaction details to the IRS within three business days of IRS accepting your e-Filed tax return.
Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary.
March 30, 2020
3:55 PM