Turbo tax told me after I filed my taxes that I need to send IRS form 8949 by mail once my return was "accepted". I have way too many stock trades to enter!

[TaxHelper1]

Interesting that Form 8949 and 8453 are only required for "adjusted transactions."  So, if you received a 1099-B from your broker and had no adjustments from the submitted 1099-B, you are stating that applying the summarized totals on Schedule D Line 1a and Line 8a should suffice.

[inin2012]

Do "adjustments" include the wash sale already stated in 1099B?

I'm also confused whether I need to mail anything to IRS after e-filing tax, with the option of summarizing all the capital gains/loss in one line.

Thanks.

[DawnC]

The adjustments (if you have them) will be found in boxes 1f or 1g.   You need to mail Form 8453 with Form 8949 if you used summary data and have adjustments.  If you're e-filing, you only need to mail copies of your 8949 along with Form 8453 if:

• You entered a summary for one or more sales categories (instead of each individual sale); AND
• The sales category for one or more summaries is something other than Box A (short-term covered) or Box D (long-term covered); or
• The Box A and/or Box D summary includes adjustments (typically listed in boxes 1f or 1g on your broker statement).

Otherwise, if you entered each individual sale, or you entered summaries for Boxes A and/or D with no adjustments, don't mail in your 8949.

If you're required to mail in forms 8949 and 8453, do so within 3 days after the IRS has accepted your e-file. Here's the mailing address:

Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254

Tip: 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.    @inin2012

[inin2012]

Thank you @DawnC 

Looks like I either print the 30+ pages and snail mail the package to IRS or spend the next full day entering all the individual sale..just for that $89 wash sale! Fun time 🙂

[inin2012]

Sorry I have further questions.

I read more articles, and relate to the answer I received here. It seems to me that the taxpayer is required to mail the statement to IRS only if the sale with adjustment is reported in a summary format.

My case is that I have all 300 sales reported on the 1099-B, and all of their cost basis was reported to IRS. 1 out of the 300 sales had an adjustment (code W) in column 1g in the statement.

If I choose to separate the sales without adjustment from the one with adjustment, meaning to report the 299 sales as a summary, and this 1 sale as individual sale, do I still need to mail the statement to IRS? If so, mailing all 30 pages or only the required page?

Thank you and appreciate all the help!

[MaryM428]

Although your explanation makes perfect sense to me, it is usually more efficiiant to just send the Form that they want and avoid the letter from the IRS agent who wants the form.  But it is up to you whether or not you decide to mail it.

Form 8949

entire 

@inin2012

[inin2012]

Hi @MaryM428 

thanks! I believe the form 8949 is attached in my efile in TurboTax. The question is do I need to snail mail the 1099b or form 8949 along with form 8453 to IRS if I report the sale as what I stated in my previous post?

eliana

[MaryM428]

You are correct that it was efiled and you do not need to mail it.

[hopes2120]

@brett-russell24 

Sorry to bother you but I hope you can please assist me with sharing the outcome of your scenario. I find myself in a similar scenario and looking for some light.

What was the outcome of your situation?

Did you have to mail all 2479 pages to avoid itemizing each line item in the 8949?

Did the IRS accept your return and additional documents?

Thank you very much!

[inin2012]

@hopes2120 

hello I can help with this partially as I just e-filed my tax. What I have done was to report the sale without adjustment in one line (as summary), and then the sales with wash sale (code w) in a separate line (as individual sale one by one). At the end the form 8949 was generated and included as part of the efile.

Based on the comment from tax expert in the thread, as long as you are not reporting the sale with adjustment in the summary format, you don't need to snail mail document to the IRS.

[hopes2120]

@MaryM428 

@inin2012 

@brett-russell24 

@DawnC 

Thank you! What I am hoping is to find out the outcome of his particular scenario (or what to do in a similar scenario) where he had to elect for summary because he had hundreds of transactions with wash sales that needed to be reported and could not be manually or auto transferred to the 8949.

In his scenario, it was impossible to manually transfer them all into the 8949 because he had a large volume of transactions (2479 pages of transactions) so he was supposed to mail the statements instead of the manual 8949.

I wanted to know what did he do at the end/what is done in that kind of scenario where he had that many pages of statement; the IRS expects to receive the 2479 pages? or did he find out that he was supposed to use a different route/method?

Any light will be appreciated. Thank you!

[2012]

Dear Edward K (or whoever has an idea to share):

Thank you for your info, which makes sense based on what's prescribed in Form 8453 (i.e., the last box), which is a life-saver as I'm similarly situated as the original / initial inquirer.  

Now, given I have multiple accounts under one brokerage (e.g. Fidelity), (1) should I print as many Form 8453 as necessary for 1099B from each and every account, or (2) can I use one single Form 8453 and attach all the 1099Bs from the multiple Fidelity accounts altogether?

J

[AmyC]

You want to file one form 8453 and attach all the files.

[2012]

Thank you for taking the time to respond to my question!

If I am allowed to be a little bit greedy here, would you or does anyone know if I can opt for the same method for NJ's Sch NJ-DOP: Net Gains or Income From Disposition of Property? 

Since I am a NJ resident, capital gain and loss attributes to NJ, and I think I also need to provide the State with something similar (if not the same) to the effect of capital gain and loss.  No? 

J  

[Cynthiad66]

No.  There is no requirement to include additional information for NJ-1040.

Use this link for instructions on DOP additional information

NJ Instructions