Form 8949 and form 8453

[zcalv]

I filled out form 8949 which included the sale of some stocks and two investment properties that I sold. I filed electronically through turbo tax and I still got the message (even though you filed electrically don't skip the paperwork and so it said to print out the form 8453 (bottom box was checked - sales and other dispositions of capital assets) . What exactly do I send in with this form or do I even send it in?

Thanks!

[Anonymous]

one of the reasons form 8453 is required is when you reported security sales on form 8949 as a total rather than providing all the details as required by the IRS. we can't see your return so we can't see exactly what you did.  if you reported as a total the IRS requires separate transmission of the details by filing by mail form 8453 along with the missing details.  the last checkbox on the form (8949) needs to be checked. here's the link

an example you sell Abc and Xyz but combine and report as a total then the 8453 is required. the 8949 should show code M in column f

however 8949 and thus 8453  if the following condition s are met

all sales proceeds reported to IRS

cost basis is reported to IRS

none of these security sale s have a wash sale or other adjustment

they are properly reported  on schedule d line 1a or 8a 

all security sales that meet these criteria can be reported as a total with no details provided.

https://www.irs.gov/pub/irs-pdf/f8453.pdf

here are the filing instructions (on page 2 of the form):

If you are filing your tax return using an online provider,
mail Form 8453 to the IRS within 3 business days after
you have received acknowledgment from your
intermediate service provider and/or transmitter that the
IRS has accepted your electronically filed tax return. If
you don’t receive an acknowledgment, you must contact
your intermediate service provider and/or transmitter.
Mail Form 8453 to:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254

[zcalv]

So all that's being said is send in form 8453 with bottom box checked which is fine. So no need to send in  supporting documentation attached such as the actual 1099-B? or any 1099-S?

Also, form 8949 box (f) has a MW in it, does that change the scenario at all on what to send etc.?

Thanks!

[Rick19744]

No. @Anonymous indicated that you NEED to include all the detailed forms so the IRS can see the detail that you did not include on your tax return.  That is the whole purpose of filing the form 8453.

[zcalv]

That's what I though but there is no clear specific mention sending in form 1099-B.

I'm assuming I do not send in forms 1099-S with form 8453 even though its on form 8949 in my return?

Thanks for all your help and responding to my questions quickly!!!

[zcalv]

My bad 1099-S is not on form 8949, they just both transfer over to schedule D..

[fanfare]

You have the option to summarize your stock transactions by Category Box.

IRS requires details to be listed on actual 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. (unless you have attached a PDF of the transactions details to your e-Filed return. TurboTax does not offer this capability).

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

[fanfare]

A 1099-S would go under Category C or F, since it is not a 1099-B. the generated 8949 can be e-Filed.