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I have a client who has over 30 stock sales. Is there a shorter way to do this?

rosas-rosie
Level 1
 
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itonewbie
Level 15

If those are covered securities with basis reported to the IRS, you don't need to report these transactions one by one on F.8949 unless there are adjustments to be made.  Even where a F.8949 is required, you can simply report the summation and refer the attachment(s).

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Still an AllStar

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3 Comments 3
itonewbie
Level 15

If those are covered securities with basis reported to the IRS, you don't need to report these transactions one by one on F.8949 unless there are adjustments to be made.  Even where a F.8949 is required, you can simply report the summation and refer the attachment(s).

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Still an AllStar
rosas-rosie
Level 1

That was something new I learned.

Thank you so much! You saved me 10 hours of work !!!

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itonewbie
Level 15

NP, @rosas-rosie.  Anytime!

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Still an AllStar
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