cap gains reporting from 1099b from Etrade

Forum|Forum|4 years ago
October 11, 2021
2 replies
22 views

I have a significant # of trades to input for cap gain purposes. Do I need to list each trade separately or can I use the short term and long term totals from the 1009b form I received from Etrade.

Mike9241

Level 15

types A and D (proceeds and cost reported to IRS can each be reported as a single line item provided there are no adjustments such as for wash sales. all others must be detailed.

the work around is to list each type as a single line item. use adjustment code M (multiple trades) then submit for 8453 to IRS. it and a copy 1099-B detailing each trade must be mailed as instructed. check the box 8949

https://www.irs.gov/pub/irs-pdf/f8453.pdf

do you have a problem when you try to import from E-trade which should bring in each trade and thus no entries by you would be needed UNLESS $0 cost is involved which presents an issue - either on the broker side or Turbotax side - zero cost box left blank causes an issue in Turbotax.

Mike9241