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Level 2
April 6, 2020
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I have a client who has over 30 stock sales. Is there a shorter way to do this?

  • April 6, 2020
  • 1 reply
  • 18 views
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Best answer by itonewbie

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).

1 reply

itonewbie
itonewbieAnswer
Level 15
April 6, 2020

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).

---------------------------------------------------------------------------------Still an AllStar
Level 2
April 7, 2020

That was something new I learned.

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

itonewbie
Level 15
April 7, 2020

NP, @rosas-rosie.  Anytime!

---------------------------------------------------------------------------------Still an AllStar