Solved: I received a1099B for my employee stock purchase plan, but my employer buys the stock each pay period. Due to this I have over a hundred transactions listed. Do I have to enter each line on the 1099B?
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I received a1099B for my employee stock purchase plan, but my employer buys the stock each pay period. Due to this I have over a hundred transactions listed. Do I have to enter each line on the 1099B?

 
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New Member

I received a1099B for my employee stock purchase plan, but my employer buys the stock each pay period. Due to this I have over a hundred transactions listed. Do I have to enter each line on the 1099B?

You have some options here.

There are two exceptions to having to include individual transactions on Form 8949.  These include:

  1. Taxpayers can group the transactions into a single entry and attach a separate statement with the transaction details in a format that meets the requirements of Form 8949.  With this option, you mail a copy of your Form 1099-B along with a special transmittal form to the IRS after you e-file your return.
  2. Taxpayers can omit transactions from Form 8949 if:
  • they received a Form 1099-B that shows that the cost basis was reported to the IRS, and
  • the form does not show a non-deductible wash sale loss or adjustments to the basis, gain or loss, or to the type of gain or loss (short term or long term).

If one of the exceptions apply then the transactions can be summarized into short-term and long-term and reported directly on Schedule D without using Form 8949. If an exception applies you can still voluntarily report your transactions on Form 8949 which might be easier if you have some transactions that meet the exception requirements and some that don't.

If the basis in your investments is shown on your consolidated statement and reported to the IRS, you can group all transactions for each account and report the total numbers in TurboTax.  

View solution in original post

1 Reply
New Member

I received a1099B for my employee stock purchase plan, but my employer buys the stock each pay period. Due to this I have over a hundred transactions listed. Do I have to enter each line on the 1099B?

You have some options here.

There are two exceptions to having to include individual transactions on Form 8949.  These include:

  1. Taxpayers can group the transactions into a single entry and attach a separate statement with the transaction details in a format that meets the requirements of Form 8949.  With this option, you mail a copy of your Form 1099-B along with a special transmittal form to the IRS after you e-file your return.
  2. Taxpayers can omit transactions from Form 8949 if:
  • they received a Form 1099-B that shows that the cost basis was reported to the IRS, and
  • the form does not show a non-deductible wash sale loss or adjustments to the basis, gain or loss, or to the type of gain or loss (short term or long term).

If one of the exceptions apply then the transactions can be summarized into short-term and long-term and reported directly on Schedule D without using Form 8949. If an exception applies you can still voluntarily report your transactions on Form 8949 which might be easier if you have some transactions that meet the exception requirements and some that don't.

If the basis in your investments is shown on your consolidated statement and reported to the IRS, you can group all transactions for each account and report the total numbers in TurboTax.  

View solution in original post

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