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Level 1
posted Mar 29, 2021 2:41:57 PM

I have a 1099-B with multiple lines, 75 of them, that need review. Can I confirm all of them at the same time? (they all have 0 cost basis which is correct)

Confirming them one by one takes about 1-2 minutes each

1 3 475
3 Replies
Expert Alumni
Mar 30, 2021 3:23:18 PM

You will have to do each one separately. You could delete the individual entries and enter the sales manually in summary form, which typically entails making just a few entries. However,  the IRS recommends that you mail your return in so you can include a copy of your sales entries with the tax return if you do that.

Level 1
Apr 4, 2021 11:15:08 PM

I have the same problem with over 200 transactions (these are option sales so the $0 cost basis is correct).

If I go with the "enter summaries" suggestion does it mean I should not be e-filing my returns?

Level 10
Apr 5, 2021 12:10:52 PM

You can enter your transactions as summaries and then e-file the return.  You may be asked to send the record of transactions by postal mail.  

In come cases, when you enter a non-covered transaction (one that was not already sent to the IRS), TurboTax will prompt you to upload a pdf copy of the brokerage statement to be send with your return.  

 

If you need to print and file any forms and a copy of your brokerage statement, TurboTax will let you know when you file the return.

Enter Stock Transaction Summaries


@iaroslav