Why didn't TurboTax flag this issue during my return preparation or during error checking? It would have been very simple for me to enter the individual transactions rather than the summary method, especially since there was only 1, had I known I would need to mail a separate set of forms. There should be multiple warnings flagged during the preparation rather than after I already e-filed.
I agree! Was confused with the additional step after filing as well and would have corrected prior.
Some better instructions would be good as the 8453 form only has Form 8949 checked. If that is insufficient and that's all I send, what the heck will happen? TurboTax should take it upon themselves to include instructions so that their customers won't end up with issues with the IRS!
I am being prompted to mail Form 8453 even though my summarized sales do not include any adjustments (i.e. Code W for wash sales). According to the instructions above, TT should not be prompting me to mail Form 8453.
I also agree that better instructions at the point of data entry are needed so that we are not surprised after e-filing our returns that we must also mail in additional forms and documentation.
Wow. Looks like I am not the only person who ended up here. TT should really do a better job at informing the implication of choosing the summary option.
I just had 2 sales and now I have to send paper work even after efiling 😐
there have been posts that turbotax is sometimes calling for form 8453 when not needed.
Examine all the 8949s in your printed return, if any have Code M (Mail it in) that is the trigger for 8453.
If you don't have that code anywhere, there is nothing to mail.
You read my mind. This is a MAJOR HASSLE to have to do this after the fact. TurboTax should have said "You will need to mail them individual transaction information later to a separate address from where you send payments."
There we thought we were done with our taxes only to discover there is this major administrative headache.
#turbotaxfail
I never never mailed my actual brokerage statements to the IRS per "such as your brokerage statements (Form 1099B)"
This is a huge failure by TurboTax not to have notified us about this. It is unclear to me if I can black out my personal information on the statements or what.
+1 to warning users about physically mailing additional forms.
Just ran into this issue.
My 1099-B was having 5 pages of penny value transactions, all from a single stock. So I went the summary route to avoid having to enter hundreds of those "micro" transactions. Sure enough, got the annoying Form 8353 mail-in instructions after e-filing my return.
Decided I am not going to bother, as the gross proceeds (Box 1d) from the 1099-B comes under $10. Pretty certain the IRS is not going to waste time on this. If they do follow up, I know what to print and send in.
In the year of 2022, and I just filed my 2021 tax return. I got the same issue too. It would be better TT warn me that I need to file additional form if I use summary method.
Wow - three years later and TT continues to allow this unnecessary hassle to persist. I guess they don't read these community messages! It would be SO simple to fix this with a warning message when you select summary. Probably one line of code - maybe two.
Wow! This is a big fail. Turbo Tax should have notified during the filing process that the user has the option to enter in the stock transaction details in TT in order to avoid the hassle of sending the documents manually. Now I have to manually fill out the 8949, grrr!
In lieu of Form 8949, you can substitute copies of your year-end broker statements that show the individual transactions. You don't need to include unadjusted Box A or Box D transactions.