You may elect to report summary information. Your brokerage statements should include a summary of your transactions, grouped by sales category, for example, Box A short-term covered or Box D long-term covered. You will enter the summary info instead of each individual transaction.
- Open or continue your return.
- Select Federal down the left side of the screen.
- Select Wages & Income down the left side of the screen.
- Select Show more to the right of Investments and Savings.
- Select Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
- Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2021?
- If you land on Your investments and savings, select Add investments.
- At the screen Get ready to be impressed, select Continue.
- On the Let's import your tax info screen, select Enter a different way.
- On the OK, let's start with one investment type screen, select Stocks, Bonds, Mutual Funds, then Continue.
- At the screen Which bank or brokerage, enter the information.
- Do these sales include any employee stock, enter No.
- Do you have more than three sales, enter Yes.
- Do these sales include any other types of investments, enter No.
- Did you buy every investment listed, enter Yes. Continue.
- On the screen Now, choose how to enter your sales, select Sales section totals. Select Continue.
- Continue.
- You will now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your IRS form 8949 and Schedule D 1040 for the amounts and category. When finished, select Continue
- You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen.
- When completed, close the record and Continue to the screen Now, we'll help you upload your 1099-B since the IRS requires a copy.
- Browse and select your document.
- When you upload your document, your filing instructions will not show that anything needs to be mailed in, and no IRS form 8453 will be generated.
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