Problem reporting Box A and Box D capital gains as summary

[pucksfriend]

I have downloaded my investment activity from my broker to TT. There are many individual sales. All of sales marked as Box A or Box D meet the criteria for a summary. In addition, there are sales marked Box E, which cannot be summarized, and must be listed individually.

If I choose to summarize both Box A and Box D sales, how do I assure that all of the individual sales have been removed from the return? Must I do this by looking at each individual sale, or will TT automatically remove the individual Box A and Box D sales once I enter the summary?

[FangxiaL]

You need to delete the imported 1099-B and manually enter the summary entries afterward. After it is done, TurboTax will ask you to upload a copy of the 1099-B form. 

[pucksfriend]

If I delete the 1099B and enter the summaries, and then download ithe 1099 again, won't it show all of the individual sales again? If it does, I will then need to delete each of these individually to prevent double reporting of the Box A and Box D sales. I will still need to maintain the Box E sales as individual records.

Could you explain your answer more fully? I don't see how it will work.

BTW, when I download from my broker, I get a combined 1099, so I might also have duplicate interest records.

[fanfare]

when selecting the "summarize" option.

you do not do "Import from financial institution".

They are mutually exclusive.

If you have other box categories besides A and D and you import that,

then A and D will be imported also.

[pucksfriend]

I'm sorry, but this answer has confused me more, because the first reply told me that TT would ask me to download my 1099 again after I have done the summary, not that the options are mutually exclusive.

I want to determine the most efficient way to enter the investment data, as I have several accounts, and all of my brokerage forms are downloaded as combined INT and DIV data. I don't have an option to separate them. If I must do everything manually to use summarize, then there isn't much point in downloading the data from the brokerage firm. And I will still have many sales that are not Box A or Box D which  I must enter individually. Lots of manual entry is more prone to error, so I would like to avoid it as much as possible.

[fanfare]

There's a difference between downloading and importing.

If you choose to summarize (not itemize), 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 Online will ask you for a PDF. )

Download the broker's report in PDF format.

 If you have to use the consolidated report the broker mailed to you, that is paper. Or print  the PDF file. (TurboTax desktop won't ask you for a PDF)

Reporting Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary.
If you don't have a 1099-B from crypto your sales category is C or F.

There is no exception for these categories, nor for B and E.

[pucksfriend]

Thank you. This clarified the differences, and helped me decide it is best not to summarize in my situation.