Form 8543

[mrichman333]

I never used 8543 before but I have a return with a lot of stock sales. Am I correct in understanding that 8543 and the supporting documentation MUST be mailed????

[taxtrio]

Do you mean 8453?

The 8453 is a "cover" page for sending documentation to IRS by mail.

You can also attach a PDF copy of the brokers statement (if it is complete and in a proper format) and put the totals on 8949's.

This year the Sch D has line 1a and 8a to put the totals for "covered" transactions report to IRS, (short and long term respectfully).

That is working great for me this year.. covered transactions are easy. Just have to input the non-covered transactions on the 8949's this year.

Read instructions for Sch D and 8949 for details.

Taxtrio

[gfizer]

Here is the excerpt from the Form 8949 instructions:

　

E-file. If you e-file your return but choose not to report each transaction on a separate row on the electronic return, you must either (a) include Form 8949 as a PDF attachment to your return or

(b ) attach Form 8949 to Form 8453 (or the appropriate form in the Form 8453 series) and mail the forms to the IRS. You can attach one or more statements containing all the same information as Form 8949, instead of attaching Form 8949, if the statements are in a format similar to Form 8949

[gfizer]

Apparently "(b)" translates into a cool smiley face when copied.

[mrichman333]

Do you mean 8453?

The 8453 is a "cover" page for sending documentation to IRS by mail.

You can also attach a PDF copy of the brokers statement (if it is complete and in a proper format) and put the totals on 8949's.

This year the Sch D has line 1a and 8a to put the totals for "covered" transactions report to IRS, (short and long term respectfully).

That is working great for me this year.. covered transactions are easy. Just have to input the non-covered transactions on the 8949's this year.

Read instructions for Sch D and 8949 for details.

Taxtrio

Yep 8453. So tired this time of year. So if the brokers statement is attached in pdf. format and not have to mail it?

[kcjenkins]

Apparently "(b)" translates into a cool smiley face when copied.

Yes it does unless you add a space between the b and the following ) And c turns into ©, the copyright symbol.

[taxtrio]

If you attach brokers stmt as PDF then you don't have to mail in the brokers statement with the 8453.

[Abby Normal]

This year the Sch D has line 1a and 8a to put the totals for "covered" transactions report to IRS, (short and long term respectfully).

I'm not using those boxes because I use the totals on the Detail page to tie to the 1099B(s), so I find those boxes inconvenient.

[Abby Normal]

I'm not sending the IRS any broker statements this year as a test to see if they ask for them. I don't think they have the time or the inclination to check all those PDFs or paper copies. As long as the taxpayer's total sales proceeds equal or exceed the total in the IRS' computer, they don't flag that return. Eventually they'll be able to check basis too and they've already tipped their hand that they just want totals on Sch D for box A & D transactions.

I put totals on Sch D for years before I learned that you're supposed to send the IRS detail sheets and I never heard a peep from them, so I doubt I'll hear a peep now. And if I do, I'll just say, Oh, did my office manager forget to send those to you? I'm sorry, she's new. Here you go.

[mrichman333]

If you attach brokers stmt as PDF then you don't have to mail in the brokers statement with the 8453.

thanks