Day trader and 1099

[JenMO]

Client brought in a 1099B that only showed he had a loss on his online trades. Short term, of course, how do I put on the Sch D? Is that how all are reported?

[JohnH]

He didn't bring you all the supporting pages - depending upon how active he is, there may be many of them.

[solomon]

Client brought in a 1099B that only showed he had a loss on his online trades. Short term, of course, how do I put on the Sch D? Is that how all are reported?

With many transactions, just use Form 8453 for the description, various for purchase date, and 12-31 for sales date. Put the total cost and sales figures.

Attach all the detail to the 8453 with the D-1 box checked and mail to IRS. In other words, make one line entry only on Sch D.