Futures Trades

if you don't have any adjustments (wash sales, AMD, noncovered categories) you can certainly simply input the 1099B as a "sales summary" with proceeds and cost basis.  You can enter adjustments/noncovereds as summaries also with adjustments, which will create Form 8949 but without the details and triggers the need to mail 8453 with statement.  This mailing is avoided by inputting these sales instead as "one by one" with the details; and the balance of your 1099B can be input separately as "sales summary" without adjustments.

I always input my 1099s and had about 30 adjustments which doesn't take long to enter and the rest as summaries is very simple.  Not familiar with futures, I did have some options reported as 1256 contracts which is a different process.  Short options that expire with proceeds and zero cost basis may be reported as noncovered securities which creates the need to either use one-by-one or mail the 8453 if you can't import.

If you are unable to download the 1099-B information from your broker, you may consider reporting summary information.   

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 info instead of each individual transaction.  Follow these steps. 

• Select Personal across the top of the screen.
• Select Personal Income across the top of the screen.
• Select I'll choose what I work on.
• Scroll down to Investment Income.
• Click to the right of Stocks, Mutual Funds, Bonds, Other.
• At the screen Let’s finish pulling in your investment income, select Add investments.
• At the screen Let Us Enter Your Bank and Brokerage Tax Documents, select Skip Import.
• At the screen OK, let’s start with one investment type, select Stocks, Bonds, Mutual Funds and select Continue.
• At the screen Which bank or brokerage sent you this form, enter the information.  Continue.
• Do these sales include any employee stock, enter No.
• Do you have more than three sales, enter Yes.
• Do these sales include any other types of investments, enter No.
• Did you buy every investment listed, enter Yes.  Continue.
• On the screen Now, choose how to enter your sales, select Sales section totals.  Select Continue.
• On the screen Look for your sales on your 1099-B, select Continue.
• At the screen Now, enter one sales total, enter the information.  Continue.
• Select Add another sales total as necessary.  Continue.
• You will mail a paper copy of the IRS form 1099-B to the IRS.

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