TurboTax Form 8949 and Mailed 8949 - What can I omit in the mail?

[starkyfubbs]

Hello.

1) On my TurboTax Form 8949, I have single line gain/loss summary totals of long-term and short-term stock trades. I am planning on mailing a Form 8949 listing all corresponding individual stock trades. In addition, I have gains/losses that are not stock related on the TurboTax Form 8949 (e.g. car sale, liquidation). The car sale and liquidation do not need to be included on my mailed Form 8949, as long as they are listed out line by line (i.e. not summarized), correct?

2) If my "Box D" stock trades (long-term on1099B showing basis reported to IRS), have no adjustments (column g), and are listed as a one line summary on TurboTax Form 8949, can I omit "Box D" individual trades in my mailed Form 8949? Or should I just include them in the mail along with my other trades ("Box A/B/E") for transparency?

Thank you.

[RaifH · Accepted solution]

Yes, you can omit both the individually reported items and the Code D stock trades from your mailing to the IRS.

The IRS requires you to mail in any summarized trades that have an adjustment or for which the basis is not reported to the IRS. If the basis is reported and there are no adjustments, you do not need to mail those in. Code A or Code D summaries that do not have adjustments do not need to be mailed in. Anything that you have already listed out line by line does not need to be mailed in. 

When you do mail it in, you also want to include Form 8453. This acts as the cover letter. Your 8949 and 8453 must be mailed within three days of your electronically filed return being accepted by the IRS. 

[starkyfubbs]

Thank you RaifH.