1099-B transaction details

Yes. You can enter Various for the long- and short-term purchase (acquired) dates, but you need to enter the actual sale date. Didn't the 1099B list a date?

If you plan to be producing many more schedule Ds with TaxCut in the future, you might want to consider Microsoft Money or Quicken. Enter your past transactions, and either those can produce a file with your schedule D info which can be imported to TaxCut.

Thank you for replying. Here is my problem.

I have both TurboTax and have since purchased TaxCut because of the problem I will explain. In the past several years I have used TurboTax to prepare my taxes downloading the relevant info from my broker directly ionto TurboTax. This year when I tried to download the info, TurboTax put up an error message saying that the download contained more than 3,000 transactions and TurboTax was not designed to handle or calculate that much (!). It aborted the parsing of the data into its program and told me to contact Intuit support to get a refund. I called them and they confirmed that TurboTax cannot handle more than 3,000 transactions. (I do not really want the refund. I want it to handle the download!)

So, I purchased Taxcut (which I have avoided in the previous years because it does not permit direct download import from the financial institutions). Taxcut will allow import from Quicken (which I own) and from a txf file. Unfortunately, my broker provides my 1099B data in the form of a printed statement (means an enormous lot of manual entry assuming that Taxcut can handle over 3,000 transactions which their support said it could) or as a pdf file. I need to somehow convert the pdf data from my borker into an Excel spreadsheet that I can then convert into a txf file that Taxcut can import.

I do own Quicken Deluxe, but I am not that confident that the data I have in it will match the 1099B that the broker sends to the IRS and that could cause me problems with the IRS .......

I am trying desperately not to have to manually enter over 3,000 transactions!

Any suggestions or help appreciated.

Jeff

Mine (Smith Barney) does indeed let me download a spreadsheet of realized gains and losses for the year. Is that the same as a 1099B data? Can I just print out that Broker's report "of realized gains and losses" and send it in with the tax return? Does it not have to be in some special format that the Schedule D requires?

I am trying really hard to avoid entering all these transactions manually into my tax program.

Jeff

Try getting the Smith Barney file to download to your computer as a Tax Exchange File (TXF) from the SB website. Then import that to TaxCut. I don't know that it will work there, but it is certainly worth the try.

If it is an interface to TurboTax directly, you may be out of luck. If it is the case that the file simply routes the file to your old TurboTax, try downloading to a computer that has never had TurboTax on it and see if the file comes in then. Alternatively, get rid of the current file association for TXF files to TurboTax.

"Instead of reporting your transactions on Schedules D and D-1, you can report them on an attached statement containing all the same information as Schedules D and D-1 and in a similar format."

I am doing this with a spreadsheet having the same columns as in Schedule D.

Maybe the SB spreadsheet can be arranged like Schedule D easily, if it isn't already that way.

See if it (Taxcut) asks you on the Schedule D if you want to "attach Broker Statement." This will generate an 8453 with "attach Schedule D-1 or equivalent" checked, which you mail in with your brokerage statement. So the return is e-filed with one form sent into the IRS.

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To be more specific, there are two sheets: one for short-term and one for long-term sales. These correspond to lines 1 and 8 of Schedule D.

Thank you very much. Is 8453 only for e-filing or also for regular mailing?

Thank you. I will look into it.

Jeff

Only for efiling. If you file a paper return just label the D-1 equivalent forms as attachemnts and attach.