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Do I have to include a copy of my 1099-B to support the summary amounts reported?

 
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Do I have to include a copy of my 1099-B to support the summary amounts reported?

Yes, if you only entered your summary transactions and you had sales that are not identified as Box A or Box D transactions, then you will need to mail a copy of your Form 1099-B.

See the following information from TurboTax help content for more details:

If you have sales identified on your statement as Box A or Box D sales, and they don't include any adjustments to the gain/loss (e.g. a Disallowed Wash Sale amount), then you should simply enter a summary for these sales. You'll only need to enter the total sales proceeds, total cost basis, and sales category.

For sales that aren't identified as Box A or Box D sales, or that require adjustments, you have a choice to make. If you choose to enter summary totals for these sales, then you'll be required to mail in a statement with specific information about each individual sale. Otherwise, you can just enter each sale one at a time in TurboTax, and you won't have to mail anything in.

Here's a tip that might help: you can report individual sales as well as summaries for the same account. So let's say you have an actively traded account with 500 stock sales that are all Box A or Box D sales. Only 3 of the sales require any adjustments. In this case, you can report the 3 sales that require adjustments individually. Then you can report all the remaining sales by entering two sales summaries, one for all the Box A sales that don't require adjustments and one for all the Box D sales that don't require adjustments. By entering just 5 sales, you've covered all 500 sales and don't need to mail in any additional info.

Additionally, here are the mailing instructions:

Take a moment to double-check that your statements are complete. For each sale listed, there should be:

 - A Description
 - Date Acquired
 - Date Sold
 - Sales Price
 - Cost Basis
 - Gain or loss for each sale
 - A sale category based on how the sale was reported to you and the IRS

In some uncommon cases, there will be an adjustment code and adjustment amount.

NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.

Here's how to mail your statements:

If you are e-filing your tax return, then mail your statements along with Form 8453 to:

 Internal Revenue Service
 Attn: Shipping and Receiving, 0254
 Receipt and Control Branch
 Austin, TX 73344-0254

If you are not e-filing, then mail your statements with your entire tax return to your local IRS office.



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Highlighted
New Member

Do I have to include a copy of my 1099-B to support the summary amounts reported?

Yes, if you only entered your summary transactions and you had sales that are not identified as Box A or Box D transactions, then you will need to mail a copy of your Form 1099-B.

See the following information from TurboTax help content for more details:

If you have sales identified on your statement as Box A or Box D sales, and they don't include any adjustments to the gain/loss (e.g. a Disallowed Wash Sale amount), then you should simply enter a summary for these sales. You'll only need to enter the total sales proceeds, total cost basis, and sales category.

For sales that aren't identified as Box A or Box D sales, or that require adjustments, you have a choice to make. If you choose to enter summary totals for these sales, then you'll be required to mail in a statement with specific information about each individual sale. Otherwise, you can just enter each sale one at a time in TurboTax, and you won't have to mail anything in.

Here's a tip that might help: you can report individual sales as well as summaries for the same account. So let's say you have an actively traded account with 500 stock sales that are all Box A or Box D sales. Only 3 of the sales require any adjustments. In this case, you can report the 3 sales that require adjustments individually. Then you can report all the remaining sales by entering two sales summaries, one for all the Box A sales that don't require adjustments and one for all the Box D sales that don't require adjustments. By entering just 5 sales, you've covered all 500 sales and don't need to mail in any additional info.

Additionally, here are the mailing instructions:

Take a moment to double-check that your statements are complete. For each sale listed, there should be:

 - A Description
 - Date Acquired
 - Date Sold
 - Sales Price
 - Cost Basis
 - Gain or loss for each sale
 - A sale category based on how the sale was reported to you and the IRS

In some uncommon cases, there will be an adjustment code and adjustment amount.

NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.

Here's how to mail your statements:

If you are e-filing your tax return, then mail your statements along with Form 8453 to:

 Internal Revenue Service
 Attn: Shipping and Receiving, 0254
 Receipt and Control Branch
 Austin, TX 73344-0254

If you are not e-filing, then mail your statements with your entire tax return to your local IRS office.



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