How to Attach Form 8949 Statements
to Your FreeTaxUSA Tax Return - SAMPLE INFORMATION
Integrate your Form8949.com app outputs with FreeTaxUSA
FreeTaxUSA has added the ability to attach supporting statements for sales of stocks and cryptocurrency, making it easier to e-file your income tax return.
-
The Form8949.com app generates
Form 8949 Statements
in Portable Document Format (PDF) for attachment to electronically-filed tax returns.
- The IRS rules state that these statements should contain the same information, in a format similar to Form 8949. Our statements comply with this requirement.
- Click here to download your statement if you have not already done so.
- Enter your summary totals into the FreeTaxUSA program
- Attach the PDF file to your FreeTaxUSA tax return
1. Use the Form8949.com app
Use the Form8949.com app to process your broker data file.
After finalizing your results, (1) go to the 'Downloads' screen, (2) select 'Form 8949 Exception 2 Statements' and (3) download a "Form 8949 Exception 2 Statement" as seen here.
On the cover page of the statement you will see the summary totals that need to be entered into your tax software.
2. Enter your summary totals into the FreeTaxUSA program
Go to the 'Income' > 'Your Stocks or Investments Sold' screen in the program.
Click the 'Add an Investment Sale' button.
Select 'Stocks, Bonds, Mutual Funds'.
Click 'Save and Continue'.
Select 'Summary'.
Click 'Save and Continue'.
For each of your summary entries, complete the next screens.
Enter the name of the Brokerage. You may enter 'Various Brokers'.
Select 'Short-Term'
Enter 'Sales Proceeds' of 2,822,960.81
Enter 'Cost Basis' of 2,833,618.88
For 'Was the basis reported to the IRS', select: Yes
Click 'Save and Continue'
Since you have wash sale adjustments, check the 'Yes' box.
But wash sale adjustments are entered on a subsequent screen
Click 'Save and Continue'
Since you have wash sale adjustments, check the 'Yes' box.
Click 'Save and Continue'
Enter the adjustment amount of 7,652.01
Click 'Save and Continue'.
Enter the name of the Brokerage. You may enter 'Various Brokers'.
Select 'Long-Term'
Enter 'Sales Proceeds' of 1.75
Enter 'Cost Basis' of 384.99
For 'Was the basis reported to the IRS', select: Yes
Click 'Save and Continue'
Later in the tax interview you can view your Form 8949.
The Form 8949 generated by FreeTaxUSA will reference the statement.
3. Attach the Form 8949 Statement PDF file to your FreeTaxUSA tax return
During the e-file step, the program will give you the opportunity to upload the PDF file generated by Form8949.com.
FreeTaxUSA will present you with a 'File Attachments' screen.
Click the 'Add' button.
On the 'Attach A File' screen drag and drop your PDF into the 'Drop your PDF here' area.
Then click the 'Upload Attachment' button.
The next screen 'File Attachments' will confirm the upload and attachment of your file.
