Urgent: I have just e-filed my 2021 tax return but summarized Schwab 1099-B

[mohakha3]

Hi, I have just filed my federal and state tax through turbotax. I tried but I could not download my schwab 1099B to turbotax, so I summarized it. My federal return is accepted. I do have some wash sales, but I closed all positions last year Aug itself. I was reading through community messages which say I need to file form 8453 and send 8949 because I have wash sales. While filing I did attach my 1099B pdf. No 8453 was generated by turbotax. Do I still need to send form 8453 to the IRS? Also will that be 8949 or 1099B? thanks! 

[fanfare · Accepted solution]

closing your positions does not expunge your wash sale records nor relieve you of any reporting requirements.

If you attached your 1099-B PDF, you have submitted all the details,

Therefore, there is no mailing necessary.

For that reason TurboTax does not give you any cover sheet for a paper mailing.

To answer your other question,

covered transactions with adjustments (i.e. wash sales) must be detailed on some 8949 or your other forms in the manner of 8949.  Consolidated 1099-B is acceptable.

[mohakha3]

Hi @fanfare : Thanks for your response. This really helps! Just one additional question: On my form 8949, I do see the Schwab transaction summarized with "see attachment". But when I downloaded my 2021 return, I do not see any 1099B in it. Is there any way to confirm if pdf was indeed transmitted to irs? Thanks!

[fanfare]

@mohakha3 

I don't know how TurboTax software handles that.

If it is like the software I use, there is no indication.

You have to put a note in your records.

PS

as of 2020 only TurboTax Online will do this, not  TurboTax CD/download.