Attach electronic copy of Form 8949 substitute statement
Most brokers provide their own Form 8949 substitute statement. Do the following to attach a substitute statement:
- Go to theIncomeinput folder.
- Select theBrokerscreen.
- Open theProceeds from broker transactionsstatement.
- In theDescfield, enterSee attached. You can also add more descriptive text if you want.
- Enter the total amount of capital gains and losses.
- In theForcefield, enter1for short-term,2for long-term, or3for 28% rate.
- If multiple items exist, enter the summary statement items within the 1st 10 rows of the statement to ensure proper processing by the IRS.
- Scan the Form 8949 and save the scanned copy on your computer or computer network.
- The IRS recommends that you save the PDF attachment of Form 8949 as "Form 8949 Exception to reporting" followed by a name to identify the broker.
- In UltraTax CS, selectEdit, thenElectronic Filing Attachments.noteIfElectronic Filing Attachmentsisn't enabled, mark theFile this return electronicallyfield in theELFscreen in theElectronic Filingfolder for the client's return.
- SelectAdd.
- In theProductfield, then selectFederalfrom the dropdown.
- In theReturnfield, selectTax Return, if it's not already entered.
- In theAttachment titledropdown, selectForm 8949 Exception to reporting <enter name>and change<enter name>to the broker's name.
- SelectFilethenBrowseto go to the location of the substitute statement you want to attach.
- SelectOKto return to theElectronic Filing Attachmentwindow. Repeat steps 4–9 to add more attachments.
- SelectView Attachmentto view the PDF file to include in the electronic file.
- When finished, selectOKto close the window. Now, when you create the electronic file, the attachments will be included as part of the file.
UltraTax CS produces an Electronic Filing - PDF Attachment Report that lists the PDF files, including the title of the PDF files and the attachment source of the files, that you've attached to the electronic file for each return.
