Thank you. Both links were very helpful. Some questions (exclusively in relation to 1099-B):

1) I assume when data is imported from the client's financial institution, there is no longer any need to report summaries or attach pdf statements, correct?

2) Is there a list of 'participating' financial institutions? I assume one cannot import the data if the financial institution does not participate. That is to say, there are no other workarounds like getting a CSV file from the client and uploading it to Lacerte, etc.

3) Would summary reporting and attaching a pdf copy of client 1099 be acceptable, even if there are numerous wash sale adjustments in the total? i.e. Is summary reporting (entering the totals for Proceeds, Cost, and Wash Sale Adjustments) on a single line acceptable?

Thank you so much for your help.

T

TylorValdez1Answer

Level 6

1) Yes

2)Go through the process to Import client data from accounts now in order to search for a FI.

3}Yes, could can do that.

Sign up

Login with SSO

Let's get you signed in

Login with SSO