Form 8949

[Zee]

Is line-by-line detail required on the Form 8949? Or, can a statement be prepared in format similar format and attached to 8453? If yes (for Drake users), how is this accomplished in Drake?

[Gene V]

Is line-by-line detail required on the Form 8949? Or, can a statement be prepared in format similar format and attached to 8453? If yes (for Drake users), how is this accomplished in Drake?

No, to first question and Yes to second See Exception to reporting each transaction on
a separate line.
page D-8 of Schedule D instruction.

[Zee]

Thanks. Drake offers a scanner utility on per-unit pricing basis. I wonder if it will scan all the necessary information into the new form? If so, it's probably worth it for those having clients with a large volume of transactions.

[gboykin]

If you can get the large transaction clients to get the information in xl format, you can upload it to schedule D via the import function in Drake.

I have used this numerous times. You just have to make the columns in the spreadsheet match the criteria set by the import utility.

[Gary2]

No, See Exception to reporting each transaction on
a separate line.
page D-8 of Schedule D instruction.

I read that, coupled with the way the question was asked, as saying that the answer is yes. The instructions say that either the 8949 or a statement with the same information can be attached to the 8453 and mailed in.

I didn't read the original question as asking whether the line by line detail could be omitted, just whether it had to be electronically filed, or whether a substitute could be used instead of the 8949 when attached to the 8453.

[taxea]

Is line-by-line detail required on the Form 8949? Or, can a statement be prepared in format similar format and attached to 8453? If yes (for Drake users), how is this accomplished in Drake?

Check the instructions for the form. I would say that if the IRS provided a form for the purpose you should use it.