the are 7 types of transactions code a through f and x
1) a - short term proceeds and tax basis reported to IRS. if there are no adjustments
the proceeds and cost can go on the capital gain reporting form line 1a (carry to line 1a of schedule d)- no detail needs to be furnished
if some have adjustments you have a choice a) report those without adjustment as above the others must go on form 8949 and detail must be furnished to the iRS or b) enter all type a's on the 8949 as a single line item
2) b-short term sales proceeds but not cost reported to IRS - can be reported as a one -line total on form 8949 - details must be furnished to the iRS
3) c- short-term neither proceeds nor cost reported to IRS -can be reported as a 1-line total on form 8949 - details must be furnished to the iRS
4) d long term same as 1) above except no adjustment items would be reported on line 8a or alternatively ll on form 8949
5) e - similar to 2)
6) f - similar to 3
7) x you have todetermine holding period and cost in soe case and follow the reporting above
where you must send detail to the IRS Turbotax should prepare form 8453 which you mail to the IRS with the required detail which can be a copy of the 1099-B - missing info must be completed on the 1099=B
8453 instructions which should be in Turbotax filing instructions
If you are filing your tax return using an online provider, mail Form 8453 to the IRS within 3 business days after you have received acknowledgment from your intermediate service provider and/or transmitter that the IRS has accepted your electronically filed tax return. If you don’t receive an acknowledgement, you must contact your intermediate service provider and/or transmitter. Mail Form 8453 to:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
