Question

What do I need to mail in to IRS for 1099B

Forum|Forum|7 years ago
June 5, 2019
1 reply
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In the Turbo tax return, there is mailing instructions under the 1099B section. Do I need to mail something to IRS?

TurboTax Premier Windows

Employee

If you are able to import/enter all sales transactions and they are reported on your Form 8949, then you do not need to send Form 8453, U.S. Individual Income Tax Transmittal for an IRS e-file Return and related attachments.

However, if you enter summary sales transactions and they are reported on your Form 8949, then you should print and mail Form 8453, U.S. Individual Income Tax Transmittal for an IRS e-file Return and the related attachment(s), e.g. copy of Form 1099-B.

If you are able to successfully e-file your tax return(s) and you entered summarized information for Form 1099-B and they are Accepted, you may complete, print and mail Form 8453, U.S. Individual Income Tax Transmittal for an IRS e-file Return and a copy of Form 1099-B. If you entered a summary in lieu of individual transactions, TurboTax should have already e-filed both Schedule D and Form 8949 with summarized information. You may verify what was e-filed by reviewing your tax return(s): How do I switch to Forms Mode in the TurboTax for Windows software? Please review the following for more information:

Mailing Instructions

Per Form 8453, U.S. Individual Income Tax Transmittal for an IRS e-file Return,

The last box says, "Form 8949, Sales and Other Dispositions of Capital Assets (or a statement with the same information), if you elect not to report your transactions electronically on Form 8949."

Thus, you may complete (TurboTax may automatically complete), print and mail Form 8453 and a copy of Form 1099-B. See "When and Where To File" on Form 8453 Page 2.

Here's how to mail your statements:

If you are e-filing your tax return, then mail your statements along with Form 8453, U.S. Individual Income Tax Transmittal for an IRS e-file Return to:

Internal Revenue Service

Attn: Shipping and Receiving, 0254

Receipt and Control Branch

Austin, TX 73344-0254

If you are not e-filing, then mail your statements with your entire tax return to your local IRS office. (Where to File Paper Tax Returns With or Without a Payment)

T

TaxHelper1

Good instructions. I believe the issue is that TurboTax limits the number of transactions it will accept to be imported from financial institutions like E-Trade. This is particularly relevant for people like day traders that can have hundreds of pages of transactions which would be quite burdensome to enter manually. Much easier to enter the summary information in TurboTax then complete the hard copy IRS Form 8453 and mail it to the IRS.