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I have a new client with 50 pages of activities on his 1099. I just found out that I can't upload/import 2020 1099. Is there an alternative than putting all this data manually?
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The Short and Long Term sales totals with basis reported to IRS and no wash sales, can plunked right onto the boxes at the top of the Sch D 1099B worksheet.
The other sales can be summarized and input in the 1099B worksheet entry lines below the boxes at the top, then attach a copy of the 1099B to the return as a PDF.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Ever since the covered and noncovered categories started ~2011, I've entered 3 line items per brokerage: ST covered, LT covered and LT noncovered, I confess I've never attached statements...and never had the IRS ask the client for it. As long as the sales proceeds match (and I guess the covered basis) it was fine.
It's not as if a human looks at the attachment, if anything maybe a true or false indicator that a pdf attachment is included in the transmission? If so, I could attach a pdf of my grocery list....(ran out of milk and eggs, busy with extensions.)
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Totals only with wash sale amounts if any. I don't do pdf attachments. I don't have time or energy to scan and attach. I'm old school. I have one of the support staff make a copy of the broker statement and mail it to TX. I assume it gets dumped in a pile there and never looked at anyway.