Entering multiple capital transactions for same security on 8449

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  • RWG1950
    Senior Member
    • Nov 2017
    • 485

    #1

    Entering multiple capital transactions for same security on 8449

    When a customer presents a 1099-B with a great many transactions (coded A for example) all for the same security, is it acceptable
    to enter just the summary of its gains & losses as shown on the1099-B on 8449 for this security and check the box on schedule "D" and create a PDF
    listing all the transactions? Would a PDF of the customer's 1099-B showing all transactions as an attachment to the e-file suffice for this purpose?
    Was wondering how other preparers handle this issue. Thanks for comments.
  • kathyc2
    Senior Member
    • Feb 2015
    • 1972

    #2
    You don't need to do any of that. You can even bypass 8849 and put amounts directly on D line 1a.

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    • FEDUKE404
      Senior Member
      • May 2007
      • 3669

      #3
      I'm not sure what you "must" do, but I have several clients with large numbers of stock sales in mult-category Schedule D transactions.
      My software allows me first to create an entry for each brokerage account, then asks for details on each applicable category. Form 8949 then shows something like "ABC Brokerage Acct -123" with totals for each Form 8949 block, The information automatically transfers correctly to Schedule D.
      It is a simple matter to attach the one-page brokerage 1099-B SUMMARY page to the efiled return as a PDF document.
      Gone are the days of enteriing individual stock sales, unless you are a glutton for punishment. . .

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