My 1099-B is 265 pages long. I entered summary information into TT and it correctly identified that I need to mail in the 1099-B. Do I need to mail in the entire form or can I just mail in the initial page containing my information / broker information and the summary page that shows the Box A total?
I can't imagine the IRS is going to look through every line but I don't want to get in trouble and I sure would like to avoid having to pay FedEx $30 to send all 265 pages.
Thanks in advance.
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If your 1099B shows that basis WAS reported to the IRS for your transactions (i.e Box A or Box D), then you can just mail the summary page showing the total information. In these cases, the IRS already has your 1099B information, so you are just following up with the summary totals and there is no need to resend them the same information.
It is only if your basis was NOT reported to the IRS that you would need to send the entire packet. If you are unsure, then you should err on the side of caution and side the whole packet, but it seems that you have indicated these are all Box A transactions, so you are fine with the summary page.
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