How do I enter my investment sales as a summary?
When you have a lot of sales, it's often easier to enter them as a summary. Entering sales as a summary makes it so you only need to enter the short-term and long-term totals from your 1099-B, 1099-DA, or consolidated 1099.
In some situations the IRS requires a summary statement. We'll let you know if it's required for any of the summary sales you enter and you can attach a PDF or image of your summary statement to your e-filed return.
Example: Let's say you have a consolidated 1099 with 6 sales: 3 short-term and 3 long-term. If you enter the 6 sales as a summary, you will only need to enter 2 sales into the software: the short-term totals and the long-term totals. If you were to enter the 6 sales individually, you would need to enter 6 sales into the software.
What do I do if my consolidated 1099 has both reported and not reported sales?
In some situations the IRS requires a summary statement. We'll let you know if it's required for any of the summary sales you enter and you can attach a PDF or image of your summary statement to your e-filed return.
Example: Let's say you have a consolidated 1099 with 6 sales: 3 short-term and 3 long-term. If you enter the 6 sales as a summary, you will only need to enter 2 sales into the software: the short-term totals and the long-term totals. If you were to enter the 6 sales individually, you would need to enter 6 sales into the software.
What do I do if my consolidated 1099 has both reported and not reported sales?
