If the sale date was prior to 2020, it should have been reported on prior year 1099-B and included on that return. If it is in fact a 2020 Form 1099-B, the you can either use a date in 2020, or report your Form 1099-B as summary transactions, and you won't have to list the dates of acquisition or sale.
It will require you to either upload to TurboTax a copy of your Form 1099-B, or mail it, with Form 8453, (which TurboTax will generate). To do this in TurboTax Online:
- Click on Search and type in "Form 1099-B"
- Click on "Jump to 1099b"
- Answer Yes to "Did or will you receive a 1099-B form or brokerage statement for these sales? "
- Click on "I'll type it in myself"
- Answer the questions about employee stock, etc.
- Click on "Let's enter a summary" button and click Continue
- Enter your Investment Sale information and repeat until you have entered for each category.
After entering all your category summaries, Look for "To finish reporting these sales, follow the mailing instructions" and click on the link for these instructions:
Mailing Instructions
Take a moment to double-check that your statements are complete. For each sale listed, there should be:
- A Description
- Date Acquired
- Date Sold
- Sales Price
- Cost Basis
- Gain or loss for each sale
- A sale category based on how the sale was reported to you and the IRS
In some uncommon cases, there will be an adjustment code and adjustment amount.
NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.
Here's how to mail your statements:
If you are e-filing your tax return, then mail your statements along with Form 8453 to:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
If you are not e-filing, then mail your statements with your entire tax return to your local IRS office.
* The questions you are asked by the program may vary depending upon what, if anything, you may have already entered related to investment sales.
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