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dtprice21
New Member

How do I upload form 8949?

 
8 Replies
fanfare
Level 15

How do I upload form 8949?

import from one of the TurboTax financial partners.

8949 is generated for you, you can't access it directly.

dtprice21
New Member

How do I upload form 8949?

How do I upload transactions from Interactive Brokers to Turbo tax. I have form 8949 from Interactive brokers.

jimike86
New Member

How do I upload form 8949?

I'm trying to report my Crypto currency transactions through Koinly.  They gave me a excel report for Turbotax.  But how do I imput it? I also can get a completed 8949 Form. Is there a way to import this.

JohnB5677
Expert Alumni

How do I upload form 8949?

Your 8949 is created based on the entries you made from your 1099-B.  It can be printed when you're ready to file your return.

 

Here's where you enter or import your 1099-B that creates the 8949.

  1. Open (continue) your return if it isn't already open.
  2. Income & Expenses
  3. Scroll to Stocks, Mutual Funds, Bonds, Other
  4. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
    • If you see Here's the info we have for these investment sales, select Add More Sales.
  5. Answer Yes to Did you get a 1099-B or brokerage statement for these sales?
  6. At Let's get your tax info, choose how you want to enter your 1099-B (import or type it in yourself).
  7. Follow the instructions.

 After entering or importing your 1099 B be sure to review the detail.  From time to time your broker does not know what your basis was (amount you paid for the investment), and it will be blank.  This will result in owing excess taxes.  You can be manually enter a correction.

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soulwinner10
Level 2

How do I upload form 8949?

Hello, I have a completed 8949 (PDF file). How do I import or upload my 8949 form into Turbotax? Will Turbotax then generate my schedule D after I import or upload my 8949 form? Thank You.

Cynthiad66
Expert Alumni

How do I upload form 8949?

You don't need to manually fill out Form 8949 because we automatically do that when you enter your investment sales or exchanges.

Most taxpayers don't need to mail in their 8949s either (unless they're paper-filing, in which case it gets included along with all their other tax forms).

If you're e-filing, you only need to mail copies of your 8949 along with Form 8453 if:

  • You entered a summary for one or more sales categories (instead of each individual sale); AND
  • The sales category for one or more summaries is something other than Box A (short-term covered) or Box D (long-term covered); or
  • The Box A and/or Box D summary includes adjustments (typically listed in boxes 1f or 1g on your broker statement).

Otherwise, if you entered each individual sale, or you entered summaries for Boxes A and/or D with no adjustments, don't mail in your 8949.

If you're required to mail in forms 8949 and 8453, do so within 3 days after the IRS has accepted your e-file. Here's the mailing address:

Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254

Tip: In lieu of Form 8949, you can substitute copies of your year-end broker statements that show the individual transactions. You don't need to include unadjusted Box A or Box D transactions.

 

Do I Need To Mail Form 8949

soulwinner10
Level 2

How do I upload form 8949?

Thanks for your reply Cynthia. I do have many adjustments and I'll probably just put in a summary because that will be much faster. I have over 1,000 transactions and closer to 1,500, so, to manually enter all of them into TT is way too much especially since I've already manually completed my 8949 forms. It appears I will have to mail in my 8949 forms. Do I mail in the 8949 summary that will be generated on TT or the one I have done myself? Also, will TT generate the 8453?

 

In addition, I do have my 1099-B from my broker. Are you saying that I can just import that into TT and not fill out an 8949 for each individual transaction and simply summarize?

 

Appreciatively.

RayW7
Expert Alumni

How do I upload form 8949?

You should mail in the 8949 that TurboTax generated.  

 

TurboTax will create the Form 8453 after you go to the File section of the interview and select e-filing. If you don't e-file, you don't need Form 8453 because you attach the backup statements to the return when you file by mail.

 

In your case I would mail both.  Usually, you do not really need to mail Form 8949, but you do need to mail your supporting statements, such as your brokerage statements (Form 1099B) and Form 8453.

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