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1099-bstock trades pdf attachment

Key tips and advice the working tax pro can use.
#1
ShawnE  
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73
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Las Vegas
I'm fast at data entry. and my experience with GruntWorx scan import and before that the proseries scan import hasn't been great. I end up spending as much time fixing the file for import than I would just typing in each one.

I've heard that some simply put the summary categories in. Like totals for short term/covered, long term/covered, long-term not covered. Then attach a pdf of the 1099-b

So I got one that made me whimper 246 trades (thank Baird for for adding that at the bottom of your form).

What do you all do? Am I an idiot for typing - think gruntworx is going to want somewhere around 50 bucks to create a file that I will then have to fix.

I'm in Drake - any process advice there?

is it May yet?
 

#2
sjrcpa  
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2593
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Location:
Maryland
For covered transactions with no adjustments IRS only requires us to enter the totals. Noncovered transactions they want the details-whether by entering each one or attaching a pdf with the details.
 

#3
ShawnE  
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Las Vegas
DUH THAT makes sense! So when you enter the totals.. You put Various / Various for the dates, the Short or Long.. Then in the description the bank/house like E-trade or in my case Baird? So no pdf if all covered?

Then enter the non covered with no pdf or
Enter summary with pdf
 

#4
sjrcpa  
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Correct
 

#5
Joan TB  
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21-Apr-2014 9:08am
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Texas
If using Schedule D, dates don't go on the form. Just put totals in the correct place for ST vs LT.

If using 8949, no dates needed either. For description, I usually use the brokerage name. In your software, you will need to find the code that triggers ST vs LT and covered vs non-covered. Also, need to find the box in your software that triggers code M (that goes in column F) for "attached statement" if using an attachment.
 

#6
EZTAX  
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California
For non - covered, if only a few trasnactions we type them in. If more, we write "see attached Brokerage name" and send in copies of statement with from 8453.
 

#7
ShawnE  
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Las Vegas
Thanks everyone! saved me loads of time.
 

#8
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5-Apr-2015 6:02am
Location:
nw ind
I just put in the summary totals by broker and category, no matter what category. I don't attach a PDF of the detail of the trades and never have since the first Form 8949. I've never received a notice from the IRS regarding this.
 

#9
Gjkycpa  
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29-Apr-2014 1:53pm
Location:
Corbin, KY
Ditto
 


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