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posted Mar 11, 2025 12:01:08 PM

I have a 1099-B with short-term trans actions reported to the IRS.Do I need to enter each transaction on my return? there are 28 pages of them.

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2 Replies
Expert Alumni
Mar 11, 2025 12:51:52 PM

No, you can do a summary of all transactions to combine your short term transactions (and long term if you have those).

 

Holding Periods:

  • Long term is a holding period of more than one year (one year plus one day) and receives capital gain tax treatment (0%, 10%, 15%, 20% depending on your regular rate of tax)
  • Short term is a holding period of one year or less and receives ordinary gain tax treatment (your regular rate)

If you are e-filing your tax return, then may be asked to mail your statements (1099-Bs or other document showing detailed sales information) along with Form 8453 to: 

 

Internal Revenue Service

Attn: Shipping and Receiving, 0254 

Receipt and Control Branch 

Austin, TX 73344-0254

 

If you need a blank Form 8453, you can download this pdf, enter your address information and check the box for Form 8949 (this form is really just a cover sheet).

Level 15
Mar 11, 2025 1:14:31 PM

What is the Box Category you are reporting? see exception below.

If you are not excused by the detail reporting exception,
IRS requires details of your SELL transactions to be supplied on some Form 8949,
or on your other forms (e.g. consolidated 1099-B or spreadsheet) which have the same information and in the same manner as Form 8949.

This is so, even when the broker has sent details to the IRS already.

The exception does not include wash sales, since they have an adjustment.
-----
Detail Reporting Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary. No attachment is necessary.

@jbcyclist47