The best action would be to use the summarized method. With this method you can enter your one total for long term and one total for short term transactions. The steps to enter a summary of your sales transactions is provided below and TurboTax will handle your transactions. You can still e-file.
- Open or continue your return (if it's not already open) and search (upper right) for the phrase stock sales > Press enter
- Select the Jump to link in the search results.
- Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments? and say No to 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
- When asked how you want to enter your sale, 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 (Long or Short term). Refer to your statement Form 8949 to enter the summary totals and category. When finished, select Continue.
- When you are done, you'll eventually come to the Here's a summary of your investment sales screen where you can edit, delete, or enter more sales.
If you are e-filing your tax return, then mail your Form 8949 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).
@nickyls
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