Printing and including form 8949

[Dee-25]

I have a long term noncovered loss (~$300) not reported to the IRS. TurboTax is making me mail in form 8949. Why is it (form 8949) not included with my e-file document?

The long term noncovered loss is not documented on the front (page 2) of my consolidated 1099 statement but shows up later (in page 5) under 1099B Totals Summary: Long Term Losses Report on Form 8949 Box E, and (in page 7) under 1099B Proceeds Exchange Transactions: Total Long Term Noncovered Securities.

I would like to know: (1) how to include form 8949 in my e-filing, if not possible (2) how to print the prefilled form 8949 from TurboTax (I can see it, but can not print it).

Thanks.

[baldietax]

Is it asking you to mail the 8949 itself, or mail a statement / 1099-B?

Did you input this non-covered sale as part of a 'summary' or 'one by one' in the 1099-B section.  For sales that need adjustments (e.g. wash sales) or fall into these non-covered categories if you just input it as summaries then it will tell you to mail the detail.  If you input it as "one by one" with all the details of the investment (dates etc) then you shouldn't need to mail anything.  This may require putting separate 1099-B's in for the same broker - one as a summary for all the covered items (usually most of it), one at the detailed level for the exceptions (usually only a few sales/lots).

That's been my experience in the past with TT Desktop and I input my 1099's manually I do not import and then make sure it's not telling me to mail anything.  Not sure about TT Online or new requirements/features/bugs for 2024.  Hope this helps.

[Dee-25]

Thank you for your answer. I followed your instructions and TurboTax dropped the required 8949 form. However, reading the instructions from the 8949 form, I'm not sure that I can drop it because the sale was listed as long-term, non-covered sale (or basis not reported to IRS and therefore not exempt from filing).

1. So would you please give me instructions on how to print the pre-filled 8949 form from TurboTax? I can see it but can not print it.

2. Is there anyway that I can force TurboTax to include my 8949 form in the e-filing? It does not include 8949 form at this time.

Again thank you.

[baldietax]

ok I've not experienced a non-covered sale, just avoiding mailing stuff for wash sales.  Tagging some of the experts here to see if they can help you.

@VolvoGirl  @DoninGA @MonikaK1 @xmasbaby0 

[AmyC]

Form 8949 is available for efile now. See forms availability here.

[Dee-25]

Hi,

Thanks for your response, but I don't understand what I need to do. I clicked on your link and it showed me this (see below). I need to print the form or attach to my e-filing.

[JamesG1]

I would like to know: (1) how to include form 8949 in my e-filing, if not possible (2) how to print the prefilled form 8949 from TurboTax (I can see it, but can not print it).

Please advise.  Was the long-term noncovered loss of $300:

• Uploaded into TurboTax from your bank or financial institution, or
• Did you enter the transaction into TurboTax through the Sales Section Totals method (below), or
• Did you enter the transaction into TurboTax through the One by One method (below)?

I believe that you are using TurboTax Desktop.  Is that correct?

[Dee-25]

 I entered the transaction into TurboTax through the One by One method. (I did the the Sales Section Totals method also. Neither method works.)

Yes, I'm using TurboTax Desktop.

[JamesG1]

In TurboTax Desktop, I have been able enter IRS form 1099-B information grouped by sales category, for example, Box A short-term covered or Box D long-term covered. 

However, TurboTax Desktop requires the IRS form 1099-B be mailed to the IRS attached to an IRS form 8453.

TurboTax Online does permit IRS form 1099-B information to be grouped by sales category and uploads a .PDF of the IRS form 1099-B into TurboTax Online software.

Your brokerage statements should include a summary of your transactions, grouped by sales category, 

In TurboTax Desktop, you will enter the summary info.  Follow these steps. 

• Select Federal Taxes across the top of the screen.
• Select Wages & Income across the top of the screen.
• Select I'll choose what I work on.
• Scroll down to Investment Income.
• Click to the right of Stocks, Mutual Funds, Bonds, Other.
• At the screen Let’s finish pulling in your investment income, select Add investments.
• At the screen Let Us Enter Your Bank and Brokerage Tax Documents, select Skip Import.
• At the screen OK, let’s start with one investment type, select Stocks, Bonds, Mutual Funds and select Continue.
• At the screen Which bank or brokerage sent you this form, enter the information.  Continue.
• 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.
• On the screen Look for your sales on your 1099-B, select Continue.
• At the screen Now, enter one sales total, enter the information.  Continue.
• Select Add another sales total as necessary.  Continue.
• You will mail a paper copy of the IRS form 1099-B to the IRS.

@Dee-25