Solved

1099-B trade dates

Forum|Forum|4 years ago
March 4, 2022
1 reply
0 views

I received a 1099-B from Fidelity with multiple entries of stock sales. TurboTax is asking me to enter "Date sold or disposed." There were hundreds of these dates, and I can't enter every single one. How do I get around this?

TurboTax Self Employed Online

Best answer by fanfare

As an active investor, you must be aware that your category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.
Instead use the "enter a summary" option to put your numbers on Schedule D Line 1a or Line 8a.

No mailing is necessary, no attachment is necessary.

If TurboTax insists on dates which are meaningless in this context,

Enter 1/1/2021 for Date Acquired.

enter 12/31/2021 for Date Disposed.

J

JamesG1

You may elect to enter a summary of your transactions.

Your brokerage statements should include a summary of your transactions, grouped by sales category, for example, "Box A short-term covered" or "Box D long-term covered." You will enter the summary information instead of each individual transaction.

Open or continue your return (if it's not already open) and search for stock sales
Select the Jump to link in the search results
Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2021?
- If you land on Your investment sales summary, select Add more sales
On the OK, what type of investments did you sell? screen, select Stocks, Bonds, Mutual Funds, then Continue
On the Let's import your tax info screen, select I'll type it myself
Step through the interview and select Sales section totals when prompted to choose how to enter your sales
You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Continue
You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen.

If you choose the option to enter a summary instead of entering each sale, then you have to mail a copy of the brokerage statement listing the individual sales. This is an IRS requirement.

If you e-file, TurboTax will produce a Form 8453. You print the Form 8453 and attach the brokerage statement(s) to it.

If you file by mail, attach the statement(s) at the back of your tax return, after all the forms and schedules.

In either case, click the "mailing instructions" link in the message at the bottom of the TurboTax page and follow the instructions that it displays.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

E

edg16Author

If I enter a summary and attach the brokerage statement to the back of my return, what should I enter for "Date sold or disposed"? Should it be the date of my most recent sale in 2021?

fanfareAnswer

Employee

As an active investor, you must be aware that your category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.
Instead use the "enter a summary" option to put your numbers on Schedule D Line 1a or Line 8a.

No mailing is necessary, no attachment is necessary.

If TurboTax insists on dates which are meaningless in this context,

Enter 1/1/2021 for Date Acquired.

enter 12/31/2021 for Date Disposed.