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jaw731
New Member

I sold stocks in 2016 and paid federal taxes. Do I deduct it from my gain? And it said I have to send form 8453 but there is no box to check that has to do with stocks.

 
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I sold stocks in 2016 and paid federal taxes. Do I deduct it from my gain? And it said I have to send form 8453 but there is no box to check that has to do with stocks.

You are mixing up apples & oranges.... if the broker withheld federal or state taxes when you had the sales then you do NOT reduce your gain or your basis. https://ttlc.intuit.com/questions/2786576-where-do-i-enter-taxes-withheld-on-a-1099-b


And the form 8453 is used to send a copy of the broker statement if you choose to not enter every sale and only enter the category totals on the form 8949 ... see the last option ... https://www.irs.gov/pub/irs-pdf/f8453.pdf

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