Form 8949 and a Scottrader

[mrichman333]

OK, I’m certain I know the answer to this but it’s late in the season and I am tired as heck.

So I have a guy that like to trade, a lot. I guess the cute Scottrade baby add works. Anyway he has dozens and dozens of trades. Do I really need to record each and every transaction, can’t I combined them somehow ?

[HV Ken]

OK, I’m certain I know the answer to this but it’s late in the season and I am tired as heck.

So I have a guy that like to trade, a lot. I guess the cute Scottrade baby add works. Anyway he has dozens and dozens of trades. Do I really need to record each and every transaction, can’t I combined them somehow ?

Get an excel spreadsheet, save as a csv file, import in a jiffy!

[taxtrio]

Enter just the subtotals for each category of trades from Scottrade statement.

Then use code "M" for attaching brokerage statement in ATX input.

Then you can scan and attach a pdf copy of the scottrade stmt to the efile and you are all set.

Or: You can send a copy of the Scottrade stmt to IRS with 8453.

[MsTabbyKats]

Well...I have tons and tons of trades. We sold 5 mutual funds that we had for over a decade and Chase give it "month by month" with just a total at the bottom. The file wasn't in pdf and to scan it would have been a major problem (100 pages or so).

I also didn't want to paper file it.

I called the IRS rep...and he said...just use that "one line" and if they wanted to see the backup I'd "get a letter". So that's what I did. I just called it "Chase Funds" and put in the appropriate figures and dates.

[Guest Taxed]

Unfortunately Taxwise does not let you import a spreadsheet for 8949 input (what were they thinking???). I have to use 8453 and ship out the 1099-B details in harcopy. What a pain.

[joanmcq]

Can't you attach it as a PDF?

[mcb39]

Well...I have tons and tons of trades. We sold 5 mutual funds that we had for over a decade and Chase give it "month by month" with just a total at the bottom. The file wasn't in pdf and to scan it would have been a major problem (100 pages or so).

I also didn't want to paper file it.

I called the IRS rep...and he said...just use that "one line" and if they wanted to see the backup I'd "get a letter". So that's what I did. I just called it "Chase Funds" and put in the appropriate figures and dates.

Am glad to hear that. I just had one come in with 84 pages from Curian Clearing. They did do a nice summary and that is what I am going to use. We have the PDF if they want it.

[Kea]

Yes, you can attach PDF statement in TaxWise. I haven't done this yet, but I did find a checkbox.

[Guest Taxed]

Well I tried that and it passed diagnostics BUt got a IRS rejection. Tried it 2 times and same rejection has to do with some XML file etc. Got tired and submitted hardcopy with transmittal form 8453. This season i am NOT messing with PDF attachments with Taxwise.

Taxwise is TOO ROUGh around the edges!