topic When your summary has code M ( transaction detail to be m... in Retirement tax questions

My 1099-B is 265 pages long. Do I need to mail in the entire form or can I just mail in the page containing my info broker info and summary page showing the Box A total?

KO1967 — Tue, 04 Jun 2019 22:12:26 GMT

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.

If your 1099B shows that basis WAS reported to the IRS fo...

AnthonyC — Tue, 04 Jun 2019 22:12:28 GMT

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.

If all your transactions were Sales Category A or D with...

fanfare — Tue, 04 Jun 2019 22:12:29 GMT

If all your transactions were Sales Category A or D with no adjustments, then no mailing of anything is necessary.
Turbotax will tell you that.

In the other categories, the number of transactions usually would be small and you can put them in "I'll type them in myself". Then, again, no mailing is necessary.

When your summary has code M ( transaction detail to be m...

fanfare — Tue, 04 Jun 2019 22:12:30 GMT

When your summary has code M ( transaction detail to be mailed), a summary is *not* sufficient.
You must provide the detail on your own forms 8949 or otherwise in a manner similar to and with all the information on Form 8949.