I have E-filed my taxes through TurboTax, and have been told to mail in my Form 8949 with Form 8453 to the IRS, but it doesn't say anywhere whether I need to send in a copy of my 8949 or the original. Which one do I use?
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It's OK to send in copies of form 8453, form 8949 and the brokerage statements.
TurboTaxAnthony provides excellent guidance:
The answer below is going to assume that you choose to use the summary transaction method of reporting your 1099B transactions instead of entering individual sales.
Yes, you will need to physically mail the Form 8949 along with Form 8453 and your summary statements from your broker. You need to do this when you choose the summary transaction method, which is why TurboTax is prompted you with this information.
What type of statements you need to include depends on what information is included on your 1099B. If you have transactions (other than sales of collectibles) for which:
Then, you don't have to include the supporting details of each transaction and you can just include the summary statements. If the above doesn't apply, then you will need to send both the summary statement from your broker and the individual transaction detail statements (1099B). If you are unsure, then you should send both the summary and the full 1099Bs.
E-filed returns – Within three days after the IRS has accepted your return, mail the Form 8949 generated by TurboTax, a copy of the summary statements provided by your broker, and the Form 8453 generated by TurboTax, to the following address:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
Click this link for a copy of Form 8453: Form 8453
[Edited | 3/13/2020 | 1:00pm PDT]
It's OK to send in copies of form 8453, form 8949 and the brokerage statements.
TurboTaxAnthony provides excellent guidance:
The answer below is going to assume that you choose to use the summary transaction method of reporting your 1099B transactions instead of entering individual sales.
Yes, you will need to physically mail the Form 8949 along with Form 8453 and your summary statements from your broker. You need to do this when you choose the summary transaction method, which is why TurboTax is prompted you with this information.
What type of statements you need to include depends on what information is included on your 1099B. If you have transactions (other than sales of collectibles) for which:
Then, you don't have to include the supporting details of each transaction and you can just include the summary statements. If the above doesn't apply, then you will need to send both the summary statement from your broker and the individual transaction detail statements (1099B). If you are unsure, then you should send both the summary and the full 1099Bs.
E-filed returns – Within three days after the IRS has accepted your return, mail the Form 8949 generated by TurboTax, a copy of the summary statements provided by your broker, and the Form 8453 generated by TurboTax, to the following address:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
Click this link for a copy of Form 8453: Form 8453
[Edited | 3/13/2020 | 1:00pm PDT]
Totally agree. My TT filing didn't even include Form 8949.
do I send original 1099 on all sale or just one that did not repot cost basis
form 8453 do I send all 1099b statement or just 1099b that de not show cost
I don't know if you summarized all of your sales or not, so the safest thing to do is send the entire 1099-B. That way, the IRS has everything they need.
if I had to work with paper filing I would rather enter all the transactions my self. Turbotax didn't warn me regarding this before efiling.
Can I re-file the taxes with actual transactions to avoid sending these forms?
No, you won't be able to send the forms electronically if you have already e-filed. You will need to mail them in.
What should I do if I filed my state taxes by mail without the 1099B attached to the 8949? Do I need to amend the state filing in some way? CA normally requires the entire federal report attached as part of the filing, and I did not include the 1099B attachments where they were needed.
The Forms 8453 and 8949 are federal forms, not CA state forms.
Since the actual Forms 8453, 8949 and 1099-B were not part of the actual federal return filed, but instead were supporting documentation sent to IRS after the federal return was accepted, you should not mail it to the CA FTB unless they request them at a later date.
This is extremely bad. Turbo tax should prompt about it while filling the e-return. I could have easily provided step wise information and not choosen the summary option. This is a crap design. Why didn't it prompt us?
Totally agree! TurboTax doesn’t bother to notify the user of the 8453/8949 requirement until AFTER the user has e-filed their taxes. By then, it’s too late. TurboTax Premier is supposed to handle investment activity competently. However, instead of explaining the consequences of entering summary totals in Schedule D, it just let’s you do it and doesn’t bother to tell you that, if you do, you will have to mail paper documents to the IRS. That is a sick joke and defeats the entire purpose of e-filing. This is a Design 101 sh&*storm which should have been caught by a first-year developer. TurboTax should compensate everyone adversely affected by reimbursing users for the time, expense and unnecessary aggravation of e-filing our tax returns only to be told after-the-fact that, oops, now you have to mail in a bunch of paper documents — which could have been avoided with a half-decent explanation in the Schedule D data-entry section. TURBOTAX SHOULD BE EMBARRASSED AND ASHAMED BY THIS RIDICULOUS, BASIC OVERSIGHT ON THE PART OF THEIR PROGRAMMERS!!!!! TurboTax owes a huge apology to every user who was adversely affected by their shoddy “interview” process for Schedule D — and needs to fire the development team responsible for it!
The more I think about this, the more infuriating it is. TURBOTAX OWES USERS AN EXPLANATION AND A HUGE APOLOGY! And here’s a crazy thought for the suggestion box: how about letting real users test your software before you release the bug-riddled, badly explained software you provide year after year? Is it too much to expect for TurboTax to include minimally competent explanations to users who rely on this software? Tax returns are absurdly complicated and TurboTax is supposed to make them comprehensible to normal human beings. If they release a version called “Premier,” it should function at a premier level — not at the garbage level this thread clearly shows it to be.
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