TurboTax Business Summary 1099 Input

[DMaxTennis]

I am using TurboTax Business for an Estate to file a Form 1041. I have used the 1099-B summary input due to the number of transactions included in one 1099-B. The instructions say that I will need to attach the Financial Institution's statement to the 1041 when filed. As I would like file it electronically, will TurboTax provide instructions in the e-filing process regarding how to attach the financial statement?

[Anonymous_]

No, TurboTax Business does not support attachments with the exception of Form 8453 for electronic filing.

You will have to mail the 1099-B to the IRS.

[DMaxTennis]

A follow-up question. Does that mean I cannot e-file the 1041?

[Anonymous_ · Accepted solution]

You can certainly e-file your 1041 but you will have to mail the statement (1099-B) and transmittal form to the IRS.

[akmisterekbenson]

Why does Turbo Business not list mailing the 1099B as part of it's filing instructions? I e-filed by 1041 for a trust and my filing instructions only say to mail in the payment with with voucher.  It says nothing about mailing in the 1099B for the summary income input.  Seems like a bug?

[Anonymous_]

If the transactions are all covered transactions (i.e., cost basis reported to the IRS), then you don't need to mail the 1099-B.

[akmisterekbenson]

They were reported to the IRS but also had W wash code adjustments and the 8949 specifically says on the the filled out form " Financial institution See Attached stmt" about the summary of proceeds. My understanding is if you have a code adjustment, the 1099 B needs to be attached.

[DIYtaxes123]

How do I mail my 1099-B to IRS after electronically filing the return? (I did summary 1099 B entries and I had an adjustment code in box 1f).  Is there a mail in form to use?  Turbo Tax did not generate one.