1099-B - How do you plan on submitting your 1099‑B to the IRS?

[plpollack]

What is this all about?

After entering my 1099-B with a disallowed wash sale,

TTax asks: How do you plan on submitting your 1099‑B to the IRS?

With a link (text only here): To finish reporting these sales follow the mailing instructions

Containing the following, BUT NOTE: the Form 8453 checklist DOES NOT INCLUDE 1099-B !!

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, don't need to be included on a statement mailed to the IRS.

Here's how to mail your statements:

If you're 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 [removed]

If you aren't e-filing, then mail your statements along with your entire tax return to your local IRS office.

[AmyC · Accepted solution]

The 8453 is required when you have summarized items rather than listing them all out. You will check the box for the Form 8949 as the reason for filing. You will mail the IRS the 8453, the 8949, and a copy of your 1099-B as supporting documentation.

Once your e-file is accepted, mail this documentation within 3 days.

[plpollack]

Mighty interesting.  I would not have known this without your prompt and complete reply.

2 further questions please:

1. BUT - In this case, I had just 2 relevant sales.  I do not see where I indicated that my entry was a summarization of the two - how did TTax know?

2. Nevertheless, If I list each of them separately, is it correct that I will not need to do this?

Again - Thanks!!!  Well done and appreciated.

[plpollack]

2nd Reply to AmyC's excellent answer.

I have re-entered the two sales separately (each with its wash sale value), and now I DO NOT get the message above re Form 8453.

IRS rules here seem more complicated than they need be.

No further questions now about this - THANKS again AmyC.