Brokerage statement and 8453

[thomtax]

There was a recent thread where there was a discussion of mailing an 8453 along with a copy of the sheet from the broker. It was sometime within the last week, but I am unable to locate it since I don't remember the title. If you are doing this, I would appreciate a reply, or Private Message, giving me some info as to exactly how you are handling these. I have always just entered each line and am looking for an easier way on one I have now.

Thanks so much.

LT

[JenMO]

Me, too. I have several clients with lots of transactions. Will the broker's statement work with 8453?

[AZ-Tax]

I believe I used the 1099-B with form 8453

I believe I used the 1099-B with form 8453 but my client only has securities at one firm. Also, I have had my clients run their gains and losses thru "gainskeeper" and mailed that in along with form 8453.

[ChEAr$]

Just this morning I found the thread here. After that I did as I've always done, entered summary of short term trades on one form 8949 and long terms on another 8949. Then printed out the 8453 and everything's ready to go. Mail 8453 to the same address as last year, Austin.

[thomtax]

Just this morning I found the thread here. After that I did as I've always done, entered summary of short term trades on one form 8949 and long terms on another 8949. Then printed out the 8453 and everything's ready to go. Mail 8453 to the same address as last year, Austin.

Thanks - a couple of questions

1. What do you put in for the sale date and where the name of security usually goes?
2. What do you mail with the 8453?

LT

[ChEAr$]

Thanks - a couple of questions

1. What do you put in for the sale date and where the name of security usually goes?
2. What do you mail with the 8453?

LT

for sales date I used 12/31/2011

Photocopy just the pertinant pages of the 1099b, those pages showing long term and short results.

[KathMorgan]

Brokerage Statements w/8453

I always put 12/31 as the sale date when using the brokerage statement method. I will usually put something in the description field like "LT Vanguard" or "ST Vanguard" . I do a separate line entry for each company or gainskeeper statement one for LT and one for ST. The print copies of the statements and attach to the 8453 and mail. As long as your sales price and basis prices add up to the totals on the statements you are good.

[origun]

Covered and non-covered securities

But don't forget that you have an added complication this year. You could have up to 4 entries on the form 8949 which will be carried over to Schedule D: Covered and non-covered securities, both long and short-term. However, this year, probably none of the long-term ones will be "covered" as basis only had to be reported on 1099-B (i.e., for covered securities) if acquired after 01/01/11.

[LCP]

for sales date I used 12/31/2011

Photocopy just the pertinant pages of the 1099b, those pages showing long term and short results.

I'm inclined to send them every bit of the brokerage statements..... including the pages of instructions.

[Lion]

Import

Import an Excel spreadsheet from each broker.