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When I enter the summary capital gains transactions Am I still required to mail in to the IRS the 1099 B form with all the detailed buy and sell transactions ?

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3 Replies
JulieCo
New Member

When I enter the summary capital gains transactions Am I still required to mail in to the IRS the 1099 B form with all the detailed buy and sell transactions ?

It depends.

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 to the gain/loss, then it is not necessary to mail in a statement with further details. TurboTax will notify you when the sale summaries you've entered for a financial institution meet this criteria. If they don't meet this criteria, TurboTax provide you with mailing instructions instead.


Julian16
New Member

When I enter the summary capital gains transactions Am I still required to mail in to the IRS the 1099 B form with all the detailed buy and sell transactions ?

What info is required and what is the IRS mailing address?

JotikaT2
Employee Tax Expert

When I enter the summary capital gains transactions Am I still required to mail in to the IRS the 1099 B form with all the detailed buy and sell transactions ?

Assuming you are trying to mail in your 1099-B after electronically filing your tax return, you would do so using Form 8453, U.S. Individual Income Tax Transmittal for an IRS e-file Return.

 

You will need to enter your name, address, social security number, as well as check off the boxes for the applicable forms you are attaching. If you prepare your return within TurboTax, this form will be generated for you already.

 

Please see this link for more details on where to mail this form and any required attachments.

 

@Julian16 

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