How to report hundreds of stock and option transactions form 1099

[yatoshura]

Hi, I began trading some options in 2025 and I received my consolidated 1099 form from Fidelity and it contains over 700 stock transactions including a mixed of long/short term, wash sales and some reported basis to IRS. It also included some of my RSUs that were sold on vesting day to covered taxes and also some older RSUs sold when my covered calls were assigned. 

I tried to import my 1099 form into TurboTax and it ended up with a lot of individual sales, but seemed incomplete when I cross checked with my 1099 form. I would like to avoid manually adding each transaction as a new sale and I also do not want to do a comprehensive cross checking between what was actually imported into TurboTax with each transaction from the 1099 form.

What would be the best way to approach this? Do I have to manually add each transaction? Or can I simply categorize all my transactions into long term and short term and report only the total proceed and basis for each? If this is a valid solution, then how do I correctly handle wash sales and some of the long term RSU sales?

I also noticed some of the wash sales seemed to be triggered when I rolled my options on Fidelity such as avoiding losses on put credit spreads. Are these actually wash sales?

Appreciate all advice. Thank you. 

[Mike9241 · Accepted solution]

First, make sure the 1099-B figures are accurate, The IRS gets the same form you get, so if there is missing info on your form it's missing on what the IRS got.

there are 7 types of of tranasctions, only 5 appear on a 1099-B 

A. short-term proceeds and tax basis reported to IRS (covered)

B. short-term proceeds  but not basis reported to IRS (noncovered)

C and F - no 1099-B

D long-term covered

E long-term noncovered

X term and basis unknown

you can enter each type as a single line item using code M to generate form 8453

if you need to adjust any amount, see the Form 8949 instructions for the code letter to use. 

https://www.irs.gov/pub/irs-pdf/i8949.pdf 

using this method, the iRS requires you to mail it Form 8453 and a copy of the 1099-B or equivalent and you can e-file your return. 

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

[yatoshura]

So I would still need to enter all the individual transactions? Or can I group them based on the categories and just enter the total proceeds and basis?