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After entering 1099-B manually in summary form, TTH&B tells me I cannot e-file

I entered my 1099-B manually in summary form (There was a net loss if that matters.) and TTH&B says I have to mail a paper copy of my return to the IRS.  If I delete that (manual) entry and import the data from the financial institution (FI) ...
(1) will I still have to mail the return to IRS?
(2) do I have to mail all that paper to the states? (there are two of them because of an unrelated farm in a second state)
(3) does Intuit store the password to my FI account?
(4) what else does Intuit do with my password?

Thank you.

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3 Replies
DavidD66
Expert Alumni

After entering 1099-B manually in summary form, TTH&B tells me I cannot e-file

You may have misread what the program told you about mailing your return.  When you report investment sales using summary totals and e-file your return, you have to either attach a copy or mail Form 8453 and your Form 1099-B (or other transaction detail) to the IRS if either of the following is true:

 

  • You made adjustments to your investment income.
  • Your cost basis isn’t reported to the IRS.

If using TurboTax Online, you have the option to upload/attach a copy of Form 8453 and your 1099-B or mail them.  If using TurboTax Desktop you have to mail them.

 

You do not have to file your return by mail.  You do not have to mail a copy of Form 8453 and your 1099-B to the state.  If you import all of your transactions and e-file you will not have to mail anything.   

 

Intuit does not store/retain or do anything else with the password to your Financial Institution.  Form more information, see the following TurboTax Help Article:  

 

When do I need to include my 1099-B with my return?

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After entering 1099-B manually in summary form, TTH&B tells me I cannot e-file

Thank you for the prompt reply!  I am using TurboTax Home & Business on a Windows 11 laptop.  I have applied all the online updates to both Windows and TurboTax.  I captured and printed the screen and it said (literally) “You’ll need to mail a paper copy to the IRS.”   A pop-up window gives the mailing address.  I’m not sure how I could be misreading that.  

I don’t know whether this “need” is due to the manual, summary entry of the 1099-B or to the capital loss.

I think my next step is to import the data from the financial institution and see if there is additional detail to remove the need to mail (the whole return, the 1099-B, the state returns?).  Unfortunately I can’t change the capital loss.  Please let me know if this approach wouldn’t help. (Here’s an opportunity for the program to be more helpful by giving some ‘why” insight.)

CatinaT1
Employee Tax Expert

After entering 1099-B manually in summary form, TTH&B tells me I cannot e-file

Please call TurboTax Customer service.  Here is a link:  Turbo Tax Customer Service 

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