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Form 8949, I listed total proceeds and cost basis from 1099-B (short term, covered, reported to the IRS). But in the description it says "See Attached"?

Do I need to send the 1099-B with my return?
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2 Replies
MindyB
Expert Alumni

Form 8949, I listed total proceeds and cost basis from 1099-B (short term, covered, reported to the IRS). But in the description it says "See Attached"?

No, unless you made adjustments to your investment income and/or your cost basis wasn't reported, you do not need to send the 1099-B.  Do keep it with your records.

 

Here is some further information on the topic you may find helpful: When do I need to include my 1099-B with my return?

Form 8949, I listed total proceeds and cost basis from 1099-B (short term, covered, reported to the IRS). But in the description it says "See Attached"?

If you have a disallowed loss amount , then  you will get that message.

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If you are not excused by the detail reporting exception,
IRS requires details of your SELL transactions to be supplied on some Form 8949,
or on your other forms (e.g. consolidated 1099-B or spreadsheet) which have the same information and in the same manner as Form 8949.

This is so, even when the broker has sent details to the IRS already.

The exception does not include wash sales, since they have an adjustment.

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Detail Reporting Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary. No attachment is necessary.

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