I have multiple stock sales to report, but I don't want to key in each individually. Where can I list 'various' in TurboTax then just enter the ST & LT totals for each category?
You'll need to sign in or create an account to connect with an expert.
You can enter the stocks based on "Sales Section Totals", you will not have to enter the 'various' feature
Please see How do I enter a large number of stock transactions in TurboTax?
if all the trades are type A or D with no adjustments the above is not necessary. You can enter just the totals.
As you go through the stock sale section you should eventually come to a page that says "Now, choose how to enter your sales", Choose sales section totals. For the sales section first choose "short-term basis reported to IRS (covered)". Enter proceeds and cost. No adjustments. Repeat for "long-term basis report to IRS (Covered)". No adjustments. If this is the case no details need to be sent to the iRS
However, if adjustments are reported or the type is B, C, E, F, or X then you must send the details to the IRS using form 8453 and follow the directions below.
If you are filing your tax return using an online provider,
mail Form 8453 to the IRS within 3 business days after
you have received acknowledgment from your
intermediate service provider (ISP) and/or transmitter that
the IRS has accepted your electronically filed tax return. If
you don’t receive an acknowledgment, you must contact
your intermediate service provider and/or transmitter.
Mail Form 8453 to:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
kkurek12
Level 1
Moonlight
Level 2
ithiam2016
Level 2
Taxes_Are_Fun
Level 2
JSki
New Member