1099-B

[sentrytax]

I have a client with 70 pages of 1099-B transactions. I also have a form 8949 with a summary of the 1099-B transactions. Do I have to input all of the 1099-B transactions onto schedule D?

[George4Tacks]

No.

How depends on the software you use.

[sentrytax]

I'm using proseries professional. 

[George4Tacks]

When you go to post - select your product.

https://proconnect.intuit.com/community/form-1099-b/help/methods-for-entering-stock-transactions-for... look for how to attach a summary

[JOFI]

No.  

What I do is input the summary, e.g. "Charles Schwab Short Term Covered Trades" and provide the total proceeds and cost basis for the sales.  I then save the documentation detailing the individual trades as a PDF document, and then I attach the PDF file to the return before e-filing it.  So far, this has not created any problems for me.

Of course, this runs into problems when you have a day trader with a hundred pages of trades -- there is only a certain size of PDF documents allowed before the e-file process falters for a given return.

[jeffmcpa2010]

No you don't have to input all the transactions.

Transaction Code's A and D do not need to be attached.

If the transaction code's are other than A or D, you can summarized the 1099-B line by line for totals of transaction groups (Short Term - Basis not reported, etc.) but on those your are supposed to attach the 1099-B as a PDF to be transmitted with the return.

At least that is my understanding and practice. (Though sometimes if it is easier when copying / scanning I send it all rather than peeling out the A and D pages)