Form 8949 Attached Statements - TT didn't complete Form 8453

Forum|Forum|2 years ago
October 11, 2023
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I had a small stock sale in a private company for which a 1099-B was issued with Box 12 checked (cost basis not reported to IRS) and the acquired dates were "Various." Turbotax notated "see attached statement" next to the brokerage name, but didn't prompt me to print/file a Form 8453 with any attachment when I e-filed or place instructions to do so in my return cover sheet. Looking back, a Form 8453 is within my return forms but totally blank.

1. Is it correct that in this circumstance I should do so? I am still within the 3 day filing window.

2. The documents supporting the cost basis and acquisition dates are from the company, and as such the figures match the 1099-B but the institution name does NOT match the 1099-B, which was really a financial conduit for the transaction. Should I attach a written explanation as well, or will simply attaching the cost basis paperwork with matching cost/proceeds figures suffice?

Thank you.

Best answer by fanfare

What is the Box Category you are reporting? see exception below.

If you are not excused by the detail reporting exception,
IRS requires details of your SELL transactions to be supplied on some Form 8949,
or on your other forms (e.g. consolidated 1099-B or spreadsheet) which have the same information and in the same manner as Form 8949.

The detail reporting exception applies only to Box A or Box D transactions without adjustments.

You said "basis not reported to IRS", which is Box B or E,

@mntaxxer