Turbo tax told me after I filed my taxes that I need to send IRS form 8949 by mail once my return was "accepted". I have way too many stock trades to enter!

[2012]

Thank you Cynthia for taking the time to put out your comment!  As well, thanks for the link, which I find quite referential.  J

[psuh0000]

I just finished the taxes today with TT premier service.

It did not tell me to physically mail-in 8949 or any other forms. My 2400 pages of Robinhood 1099 was uploaded and sent to the IRS!

The only issue was since fiel was huge the upload took several tries before going through.

Also, at the end Your Transmissions did not go through was an issue but when I tried through mobile app then it went through!

Using TT Premier was a life saver, I high recommend it!

[Shaylin1]

You should have received a form 1099 from E*TRADE. That form will summarize your transactions and you can then enter the information on your return.  The "detail" will show the detail which will allow you to [if you wish!] verify that all of the transactions are correctly included and accounted for.   

[yvk_99]

I am in a similar situation.  I trade in 3 accounts,  --- IRA, and 2 brokerages.  Normally I use trading software to import and calculate "Wash Sales" across the accounts.

This year the numbers of the trading software did not match when compared to 1099B.  I am a little concerned.

I had to mail in a big bunch of transactions.

Did the IRS process your tax returns?  

Mine says 'still processing'

[fanfare]

if you use software to condense across two or more accounts,

due to wash sales, 

then you must expect that your final report will not match the 1099-B from any one broker.

Do not be concerned until the IRS contacts you.

[yvk_99]

Thanks for your reply...

This year I am trading around 15-20 transactions a day.

That is going to generate a big 8949 

Is it the norm with day traders -- who have a lot of transactions -- to print and mail the IRS  -- 'humongous' paperwork?

[fanfare]

contact the IRS for ways to file details on electronic media. i.e. DVD.

There must be some solution.

It's not at all clear why any paperwork is necessary, since all your covered trades are already sent to the IRS by your broker since 2011.

[tonynick1]

How do you fill out 8949 using Turbo tax? It won't let you edit forms unless your suggesting to do this manually and mailing in the taxes and forms?

[tonynick1]

I have several different investment accounts. Turbo tax is only listing one of these accounts on my 8949 for short term and one for the long term. It doesn't fill in for all the other accounts for the 8949.

The totals do report out accurately on schedule D, Part I and Part II.

I had no issues with the interest and dividends all listed for each account on schedule B.

This issue 8949 has become very frustrating!!! Calling TT has gotten me know where.

One person via discussion site suggesting downloading the software, that online is terrible? No idea how to.

[MonikaK1]

Form 8949 (Sales and Other Dispositions of Capital Assets) records the details of your capital asset (investment) sales or exchanges. Part I of the 8949 shows the short-term transactions (held less than a year) and Part II has the long-term transactions.

When you enter investment sales or exchanges from Form 1099-B or 1099-S in TurboTax, the program will automatically fill out Form 8949 and transfer the info to Schedule D. 

However, if TurboTax informs you that you need to submit Form 8453, it's generally because you chose to use the summary transaction method of reporting your 1099B transactions instead of entering individual sales. Note that the form states "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".

If that is the case, then the Form 8949 prepared by TurboTax won't include the additional details about the individual sales and you should mail the brokerage (or other) statements that show the details of your transactions to the IRS.  Statements should include the following items for each transaction (these are usually reported on your Forms 1099-B or on a supporting statement):

• 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.

Please see this help article for more information.

If you started your 2022 return in TurboTax Online and want to switch to TurboTax CD/Download, here's how.

1. Install and/or open your 2022 TurboTax CD/Download
   • If you have not purchased TurboTax Desktop software, select the product you need to complete your return
   • Important: If your return includes a state, make sure you also install the corresponding state program(s) in order to proceed
2. Select Continue From TurboTax Online
3. Sign in to your Intuit Account
4. Your data will be imported into TurboTax Desktop, and your return will open once the data transfer is complete

See this help article for additional information.