1099 B transactions from financial institution

Forum|Forum|5 years ago
May 8, 2021
3 replies
9 views

I have a client that produced 25 pages of stock sales that show Basis is reported to IRS. Can I just enter the total from summary page or do I have to generated the form 8949 to show these transactions individually? I did read somewhere that we can do this for A and D transactions basis reported.

But I do not want to prepare an incomplete return. Has anyone done this with no letters or repercussions associated with the IRS change on this reporting.

Thank you

ProSeries Basic

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HawkeyeLawyer

Level 2

You can summarize and send the detail either by attaching a pdf of the summary or mailing the 8453 with the paper summary. In proserios see the second boxed "miscellaneous options" on the Schedule D page. Right click and click on the "about" to read the help page.

IRonMaN

Level 15

If the sales are reported on a 1099B and the basis is reported to the IRS, just enter the totals -------------- the IRS has all of the information they need, you don't need to submit anything to them.

Slava Ukraini!

dkh

Level 15

https://www.irs.gov/pub/irs-pdf/i1040sd.pdf see page D-12 column 1

Can summarize transactions, do not need to attach summary, etc etc

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