Trying to prepare for 2022 tax using windows CD version on desktop
It installed correctly and adding correct RH account no. and document ID no.
I tried doc id no. in smaller (not capital letters) but it does not work either
Without import function this is very difficult and lengthy
so what is the solution?
I tried to both div/int section as well as capital gains(stocks/bonds etc) but failed at both sections.
So only option is to call Turbotax via phone?
No one can solve the issue on this forum?
I hate long wait on phone and verification etc
If you haven't received an answer by this time, you'll need to contact Support.
@seccam wrote:
It is a long hold.
Yeah, understood. Regardless, it's either try to get an answer here or deal with the long hold. There are really no other options, unfortunately.
You may be able to just input a summary and avoid the import completely.
@seccam - I agree with @taxlady28 - there is no requirement to data entry each and every trade..... just enter the summaries for each section of the 1099-B. Should take 5 minutes!
Don't overlook 1099-DIV and 1099-INT which are often part of the reporting package.
The summary method works just fine, provided you don't mind mailing Form 8453 and the supporting doc.
Conditions when Form 8453 is required. The IRS gets a copy from the FI so it isn't alway necessary.
Thanks you said summary method works fine.
But in case Short term reported i.e. BOX A and long term reported BOX D and I enter summary - do I still need to mail 8453?
For BOX C - short term not reported - I have only 2 transactions so instead of summary - I can enter those transactions details.
So if I do all of the above - do I still need to mail ?
I am trying to avoid mailing.
Thanks that is what I am trying to confirm...
Link you provided says -
The IRS will require a copy of your form 1099-B if you’re reporting your transactions by sales section totals instead of reporting each one separately, and one of the following is true:
So in my case I have consolidated 1099-B from Robinhood
I have 3 sections
*SHORT TERM TRANSACTIONS FOR COVERED TAX LOTS
*LONG TERM TRANSACTIONS FOR COVERED TAX LOTS
*SHORT TERM TRANSACTIONS [Ordinary gains or losses are identified in the Additional information column]
Report on Form 8949, Part I, with Box C checked.
For the 3rd section short term box C - i.e not reported to IRS Short term ------I have only 2 different stocks and only one trade for each so if I enter this details instead summary and first 2 (BOX A and BOX D) as summary will that avoid me mailing to IRS?