Hi,
I have one thousnad of stock transactions. can i aggregate then as short/lont team on 8949? Do i need to send any supporting documents to IRS?
Thank you
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Yes, you can aggregate your transactions by summary to totals. You can enter category totals instead of individual transactions. To do so,
If you are using TurboTax Online, after entering all your sales section totals, Look for "Now we'll help you upload your 1099-B since the IRS requires a copy" and follow the instructions, or you can mail a paper copy of your 1099-B to the IRS. If you are using TurboTax Desktop you will have to mail your 1099-B. If you want to mail, click on "How do I mail my statement".
Take a moment to double-check that your statements are complete. For each sale listed, there should be:
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.
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