Attach multiple brokerage statements to efile

[jasdlm]

Do you scan all statements from multiple brokerage accounts in to 1 .pdf and attach it to the 8949 (which only allows 1 attachment), or do you scan the statements separately and attach all but 1 under 'other'?  Or . . . is there a better way?

Thanks much!

[Randall]

I haven't attached these in several years.  I try to get the client to have broker send me a cvs file and import it to ATX.  And it's been several years now since the brokers have been required to track and report basis to IRS.  So you can just put in the totals on Sch D a lot of times.

 

[Abby Normal]

We don't import. Just enter totals. Never attach anything. Not a peep from the IRS.

Rarely enter directly on Sch D unless clients only have codes A & D with no wash sales. Prefer to have it all on 8949 Detail where I can see totals and tie to 1099B.

[TaxCPANY]

Rather than PDF attachments, I still mail hard copies of Forms 1099-B, stapled to Form 8453, to the standard address in Austin, TX.  Only my biggest day trader's statements ever cost more than two Forever stamps (on a 9 x 12 manila envelope), and my postman simply takes them from my mailbox.
On Form 8949 I enter "See Form 8453 attachment", one subtotaling all the short-term transactions and net gain/loss, one long-term.  Absent wash sales and gnarly puts & calls, it's short, sweet and in compliance.

[G2R]

Quick Question -- When you only put the TOTALS for Boxes A, B, D, etc what are you using for the dates.  When I paper filed returns, I'd simply type VARIOUS, but ATX doesn't allow this.  

[Abby Normal]

No dates are need if you use totals and code M. Pretty much all we do here. No attachments. No mailing in. No word from the IRS in many years. They only check totals.

[SaraEA]

We have always thought that Austin address is actually to a great big dumpster.  We all know that if a return is audited, the agents aren't going to try to recover those paper copies but will ask the taxpayer for them.  Still, we send them so we are in compliance.  I know one preparer who will report totals even if there are wash sales (adjustments) on "basis reported" sections.  (Can't do this with "basis not reported" sales I guess.)  In the end, the IRS computers list every single sale, total them, and only if there is a mismatch with what the taxpayer reported does a letter get generated.  Heck, I've even responded to these CP2000s with a phone call, told the person the basis numbers, she entered them in while I was on the phone and said there was no tax due and closed the matter.  It seems like we take this more seriously than even the IRS does.

[Richcpaman]

Why would you mail or scan something to the IRS that they already have?

I would send something in if there was a large error that I felt they needed further clarification.

So, I recommend that you STOP.

Rich

 

[Roberts]

On 2/20/2018 at 10:59 AM, Abby Normal said:

We don't import. Just enter totals. Never attach anything. Not a peep from the IRS.

Rarely enter directly on Sch D unless clients only have codes A & D with no wash sales. Prefer to have it all on 8949 Detail where I can see totals and tie to 1099B.

I run totals in a similar manner. Basically they can get a long /short and a reported / non reported. Each is entered as one set of totals.

All dates are entered as Various and 12/31. How can a software not allow Various?

I NEVER upload or mail a 1099 and haven't in years. Since cost basis has been reported - I don't think the IRS wants that stuff anymore.

[Abby Normal]

ATX doesn't allow various for the sold date, possibly because the IRS efile doesn't allow it?

[Roberts]

Per instructions for 8949:

Stock acquired on various dates. If you sold a block of stock (or similar property) that you acquired through several different purchases, you may report the sale on one row and enter "VARIOUS” in column (b).

 

I use Drake and OLTPRO and they both allow Various.

 

[joanmcq]

Acquired yes for ‘various ‘. Date sold, you can’t use various.

[Roberts]

I always do 12/31 for sale dates. Various for purchase date.

[Lion EA]

In my software, 999999 prints as VARIOUS.  I almost always have the real sold date.  I use the real sold and acquired dates when I have them.  If I'm missing acquired, then it's 999999, marking L if true. In the rare case without real sales date, it's 123117, marking L or S if needed.