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How to Mail - trade details

In the past my CPA used to enter only totals from sales of stocks (both long and short term) and then e-file Tax return but mail the sale details from my 1099 to IRS. Tax prepares can not import 1099 into their software so they have manually enter every thing.

 

According to him, it was to save me money and I was paying him for time or how many forms or lines he has to punch.

 

How can it be done within TT and is there form to be mailed along with securities sale detail? What is form number or how do get mailing instructions with TT?

 

Can it only be done for sales of securities or any other form which can not be e-filed mailed to IRS but tax return itself filed as e-file?

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2 Replies

How to Mail - trade details

it depends on what version of Turbotax you are using. I don't know what's available in the online versions. in desktop you can go into forms mode and enter all type A transactions with no adjustments (short term - sales price and tax basis reported to IRS) as a single number on form 1099-B worksheet in the section labeled Form 8949 reporting exception transactions. No details need be sent to the IRS. the same is true of type D

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for type a and d with adjustments and all other types, the details must be furnished to the IRS by entering each separately on form 8949 or entering totals (using code M) and using form 8453 (Turboxtax supports this and entering code M should generate this form with the box for Form 8949 checked). submit it with detail to the IRS through the mail

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8453 instructions

If you are filing your tax return using an online provider, mail Form 8453 to the IRS within 3 business days after you have received acknowledgement from your intermediate service provider (ISP) and/or transmitter that the IRS has accepted your electronically filed tax return. If you don’t receive an acknowledgement, you must contact your intermediate service provider and/or transmitter.
Mail Form 8453 to:
Internal Revenue Service Attn: Shipping and Receiving, 0254 Receipt and Control Branch Austin, TX 73344-0254

How to Mail - trade details

Thanks @Mike9241 

 

There is list of form numbers on Form 8453.

 

Q: Is Form 8453 is only to be used for these listed form numbers or can it be used for other forms/info which you can not e-file.

 

For example can you e-file your tax return but mail form 8990 along with Form 8453?

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