What exactly do I need to mail in with my 8949 form ?

[adragus]

1) Do I need to itemize my sales in the 849 form or can I just use the summary one that was generated when e-filing?

2) Do I need to attach copies of the itemized 1099-B forms that I used? Do I need anything else?

[AnthonyC · Accepted solution]

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.

Short Answer:  You do not really need to mail Form 8949, but you do need to mail your (1) supporting statements, such as your brokerage statements (Form 1099B) and (2) Form 8453.

When you use this summary method of reporting (i.e. you just entered your totals and not each individual transaction), in some cases, the IRS still wants the supporting details sent to them.  You will send them these details via the 1099B forms (you can attach the summary 8949 also, but you don't have to and you should not re-list all the transactions on Form 8949 yourself if you are already using the summary.

Note:  In limited situations, you’re allowed to summarize investment sales without providing complete details.  If you are summarizing multiple investment sales that are either Box A sales or Box D sales, and there are no adjustments necessary (i.e. Code W for wash sales), then it is not necessary to mail in a statement with further details.  Turbotax will tell you this when your sales meet the criteria and will not prompt you to mail any statements.

So, if you are being prompted to mail further statements, Form 8453 says to attach Form 8949, Sales and Other Dispositions of Capital Assets (or a statement with the same information), if you elect not to report your transactions electronically on Form 8949.

When you use the summary method, TurboTax only produces a Form 8949 with the summary totals that you entered, not the individual transactions, so the Form 8949 that is included in your return is NOT sufficient for this purpose.  (Though, you can include it with the mailing as a reference)

You need to use Form 8453 to mail the brokerage statements that show the details of your transactions.  Statements should include the following items for each transaction (these are usually reported on your Form 1099-Bs:(  

• Description
• Date acquired, 
• Date sold, 
• Sales price, 
• Cost basis, 
• Gain or loss for each sale,
• Sale category based on how the sale was reported to you and the IRS, and
• In some cases, there will be an adjustment code and adjustment amount. 

NOTE: As discussed above, 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. 

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

[yugaaa]

Do we need to send 8949 to state FTB? 

[mchlptrllo]

Hi, I just efiled tax returns and now I read I need to submit my 8949 (since only summary was sent). My 8949 is 3000 pages long.  Do I really need to go to FedEx and print 3000 pages and then mail 3000 pages to the IRS? 

[fanfare]

contact IRS for options available to file on electronic media.

[fanfare]

@mchlptrllo 

you really need to find some tax software that will let you attach details in PDF format when you e-File.

Detail reporting exception: You should be aware that your Schedule D category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions. No mailing is necessary.

[tax_is_taxing]

What if my 1099-B does not have cost basis as well ?

My RSU vested shares proceeds are reported on 1099-B without the cost basis. The brokerage has sent me another piece of paper with the cost basis - which is not any standard IRS form.

Again, too many transactions to list individually in 8949.

[DaveF1006]

You would need to insert the cost basis as reported on the separate piece of paper. In the sales section, you will need to report it as either long-term or short term basis not reported to the IRS.

@tax_is_taxing