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john149
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Turbo Tax printed my Form 8949. Do I need to send that to the IRS? I don't remember having to do that in past years.

 
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1 Reply

Turbo Tax printed my Form 8949. Do I need to send that to the IRS? I don't remember having to do that in past years.

It sounds like you may need to mail something in this time, or at least attach a PDF version of form 8949 to your e-filing, but whether you need to do this depends upon how your transactions were entered into TurboTax.  The IRS instructions for Form 8949 (https://www.irs.gov/pub/irs-pdf/i8949.pdf) detail on page 4 when mail is needed:

 

"If you e-file your return but choose not to report each transaction on a separate row on the electronic return, you must either (a) include Form 8949 as a PDF attachment to your return, or (b) attach Form 8949 to Form 8453 (or the appropriate form in the Form 8453 series) and mail the forms to the IRS. (However,
you can't attach a paper Form 8949 to Form 8453-FE.) You can attach one or more statements containing all the same information as Form 8949, instead of attaching Form 8949, if the statements are in a format similar to Form 8949.

 

 However, this doesn't apply to transactions that qualify for Exception 1 or the Special provision for certain
corporations, partnerships, securities dealers, and other qualified entities
, earlier. In those cases, neither an
attachment, a statement, nor Form 8453 is required."

 

Exception 1 says that you can (and from the sound of it, you did) enter totals rather than individual entries into TurboTax and skip needing 8949 if there were (a) no adjustments in boxes 1f or 1g of the 1099-B form(s), (b) there was no box 2 "Ordinary" checked, and (c) the basis and long/short term values were all correct on your 1099-B form(s).

 

Be aware that the IRS is not processing paper returns at this time due to the COVID-19 pandemic preventing IRS employees from working at the office.  So if you are looking for a timely refund, you can either insert the requested PDF 8949 (or a PDF document with the same information as noted in the above) or go back into TurboTax and enter each individual entry from your 1099-B forms.

 

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