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March 26, 2020
Question

Form 8949 Page 2 had see attached statement. Where are they found?

  • March 26, 2020
  • 1 reply
  • 0 views

Where in T/T does one find "see attached stament"?  Can't find.

    1 reply

    fanfare
    Employee
    March 26, 2020

    That statement is something you are expected to provide.
    Note that TurboTax does not allow such attachments via e-File.

    ---

    IRS requires details to be listed on Form 8949,
    or on your own forms (e.g. consolidated 1099-B) which have the same information and in the same manner as Form 8949.
    Either way, if you choose to summarize, you have to mail the transaction details to the IRS within three business days of IRS accepting your e-Filed tax return.
    Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary.

    ---
    As an active investor, be aware that your category Box A 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.
    --
    If you have wash sales, it gets more complicated since those adjusted transactions have to be itemized on Form 8949 and the summary totals adjusted accordingly.

    enter the wash sales on Form 8949, then use the subtotal results on the bottom of that form to know how much to subtract. Be sure to NOT check the adjustments box in the summary window.
    --
    Alternatively, if entry of Wash Sales is too tedious,
    summarize and check the box for adjustments and enter the disallowed amount.
    The summary will go on Schedule D 1b.
    You will be making the mail-in election.