Stock Sales - Long Term E

[Yardley CPA]

Thanks to all of you who responded to the Stock Sales with Boxes A & D checked..  What about those statements that reflect Box E as being checked?  Does each sales transaction need to be entered on 8949 or is there an opportunity to lump sales of a specific security into one transaction?  For instance,100 shares of  ABC Company was purchased on 8/18/10 but was sold on different dates throughout 2014.  Can you lump everything into one transaction, using the latest date of sale?  Or does each individual sale of ABC Company need to be entered?

 

Thanks very much!

[jklcpa]

You can't lump those sales of ABC that have different sale dates during the year.  You can lump those sales of ABC that are short-term and sold on the same date that were purchased at different times by entering "various" as the purchase date.  Then you can also lump all the long-term and sold on the same date that were purchased at different times by entering "various" as the purchase date.

[Yardley CPA]

Thanks, Judy.