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Level 2

Question

How to still e-file if rejected?? Overdue, Need Instant Help!!!!

Forum|Forum|4 years ago
April 21, 2022
2 replies
0 views

Hi,

This is the 2nd year that my e-file on TurboTax being rejected! I now live in France under a study; if I mail in, it’s 75 pages! My sole income was from stock trading, dividends & bank interest. I use the 3rd-party access for TurboTax to import all my 1099 prepared by my broker also as my bank. However, TurboTax keeps showing “Needs Review” without pointing out on what pages I can find the numbers to fill in manually, and I have 500 pages of 1099 from my broker!

Last year I mailed in, no questions from IRS; but because of mail-in, I still have not received my tax refund! This year for being overseas, 75 pages to mail in, may I just first e-file on TurboTax, and IRS contacts me if they have questions?? I really need help on this……😱😱

I talked to my broker, they claim they have disclosed all information required by IRS, and there is nothing else that TurboTax cannot get from the 3rd-party access!

If I cannot e-file this year, I think I’ll drop TurboTax, it’s not as convenient as it advertises……☹

bosso3

Level 7

I'm not sure this will work, but I suggest you try rerunning the "Federal Review" and "Smart Check".

These will often point you to a specific form or worksheet. They are both located under the "Federal Taxes" tab which is at the top of your screen on the gray bar. If this shows what to change, do so, and rerun the review until no errors are found.

If this does not work, you can use the forms method to manually browse each of your tax forms. If forms have errors, they may appear highlighted in yellow or red. It may be tedious to do so for 500 entries, but if you want to find it, it may be needed.

To use the Forms Method:
Click the "Forms" icon in the blue bar at the top right of your screen.
From the list of forms, click the form you want to review.
Review as many forms as needed.
Hint: You can also review your state(s) forms here.
To return to the step-by-step process, click the "step-by-step" which is in the blue bar at the top right of your screen, where the "Forms" icon formerly was located.

Another alternative is to use the "Print Preview" Method. This creates a PDF file that you can browse, use the "find" function on and if you choose, it can include all documents, worksheets and forms.

To Use the "Print Preview" Method:
Click the "Print Center" tab. It is located in the upper right corner next to a printer icon on the gray bar.
Click on the radio button that has the pages you want to view.
Click the "Preview Print Copy" button.
This will create a PDF that you can browse and review. You can also print or save this pdf if desired.
Before you file, I suggest using this method to save on your computer a PDF file that contains "Tax Returns, All calculations." This provides you a file you can use for future reference if needed.

For online product users
To see all these forms you need to pay any fees first with a credit card.
https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f...

If none of this works, your idea of paper filing and letting the IRS sort it out is a viable alternative.

**Say "Thanks" by clicking the thumb icon in a post

bosso3

Level 7

One last comment:

If you think you will owe the IRS money, you can make a payment any time.

IRS payment options are listed here

https://www.irs.gov/newsroom/irs-payment-options

**Say "Thanks" by clicking the thumb icon in a post

YaoyuBrancheauAuthor

Level 2

bosso3, thank you with my whole heart and I'll follow your instructions this weekend! I've been feeling depressed over this issue. Now I live overseas, cannot just walk in a CPA office; also I'll have to deal with the same situation next year, so, why not try to fix it this year! But, 500 pages of 1099 to go through vs. 75 pages to mail in internationally to IRS........either one makes me want to cry!!!! 😭😭

Please be so kind and check on my post this weekend, I may have more questions when going into details. 😥

Critter-3

Level 15

You can quickly enter this manually. Your brokerage statements should include a summary of your transactions, grouped by sales category.

There are seven possible "Box" designations that indicate the holding period (Long/Short Term) and the reporting status. These are the only ones you have to summarize. If you want to manually enter your 1099-B as the summaries.

Tell us about your 1099-B sales for this BOA account

Answer the questions

Since you have more than a few BOA sales, we recommend entering sales section totals

Continue

Before entering sales section totals, take a moment to find them on your 1099-B

Continue

Now, we'll enter one sales section total on your BOA 1099-B

Use the drop down menu to select the correct designation.

Code A. This code indicates a short-term transaction for which the cost or other basis is being reported to the IRS. Use this code to report a transaction that the recipient will report on Schedule D (Form 1040), line 1a, or on Form 8949 with box A checked with totals being carried to Schedule D (Form 1040), line 1b.

Code B. This code indicates a short-term transaction for which the cost or other basis is not being reported to the IRS. Use this code to report a transaction that the recipient will report on Form 8949 with box B checked with totals being carried to Schedule D (Form 1040), line 2.

Box C. Report on a Part I with box C checked all short-term transactions for which you can't check box A or B because you didn't receive a Form 1099-B (or substitute statement).

Code D. This code indicates a long-term transaction for which the cost or other basis is being reported to the IRS. Use this code to report a transaction that the recipient will report on Schedule D (Form 1040), line 8a, or on Form 8949 with box D checked with totals being carried to Schedule D (Form 1040), line 8b.

Code E. This code indicates a long-term transaction for which the cost or other basis is not being reported to the IRS. Use this code to report a transaction that the recipient will report on Form 8949 with box E checked, with totals being carried to Schedule D (Form 1040), line 9.

Box F. Report on a Part II with box F checked all long-term transactions for which you can't check box D or E because you didn't receive a Form 1099-B (or substitute statement).

Code X. Use this code to report a transaction if you cannot determine whether the recipient should check box B or box E on Form 8949 because the holding period is unknown.

Open or continue your return (if it's not already open) and search inside TurboTax for the phrase stock sales.

Select the Jump to link in the search results.
Answer Yes to both Did you sell stocks, mutual funds, bonds, or other investments? and Did or will you receive a 1099-B form or brokerage statement for these sales?

If you land on Here are all your 1099-B sales, select Add sales from a different brokerage. Then answer Yes to Did or will you receive a 1099-B form or brokerage statement for these sales?

When asked how you want to enter your 1099-B, select I'll type it in myself.
Select or enter your brokerage on the next screen and continue.
On the following screen (Tell us about...), answer the questions until you reach the next screen. Select the second option, Let's enter a summary instead, and select Continue.
You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Continue.

When you are done, you'll eventually come to the Here's a summary of your broker sales screen where you can edit, delete, or enter more sales.

You will have to mail a copy of your 1099-B to the IRS. TurboTax will produce a Form 8453. You print the Form 8453 and attach the brokerage statement(s) to it.

IRS requires details to be listed on a Form 8949,
or on your other forms (e.g. consolidated 1099-B) which have the same information and in the same manner as Form 8949.
Either way, if you choose to summarize, you have to mail the transaction details to the IRS within three business days of IRS accepting your e-Filed tax return.(unless you have attached a PDF of the transactions details to your e-Filed return. TurboTax seems to be adding this feature now).
Only Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary.
If you don't have a 1099-B from coin base (crypto) your sales category is C or F.

There is no exception for these categories.