To upload your IRS 8949 from TaxBit into TaxAct, follow these steps to make the process as simple as possible.
To start off, you’ll need to make sure you have downloaded the PDF version of the 8949 from TaxBit, and then you’ll log into your TaxAct account. Once logged in, it’s time to get started!
Step 1: Open the Help Center.
Step 2: Type in 8949 and hit “Enter” (on your keyboard).
Step 3: Click the second link, titled “Form 8949 - Attaching a statement”.
Step 4: Click “+ Add Form 8949 Attachment.”
Step 5: Check the box that says: Attach a statement of transactions instead of entering them individually. Then click on “Continue.”
Step 6: Type in “TaxBit” under the Name of brokerage and click on “Continue.”
Step 7: Click on “+ Add Form 8949 Attachment.”
- You may need to come back to this step more than once, depending on how many sections are on the 8949 that TaxBit provides to you.
- Note the paragraph with information about the sections on the 8949. (If you click on the little “i’ Indicated by the arrows you can read more details.)
Step 8: For short-term gains/losses, select “Short-term Category” from the drop-down list based on the boxes checked on the top of each page of your 8949 form.
- Note: If you have long-term gains/losses, first complete the rest of the steps for reporting your short-term gains/losses (7-10). Then repeat those steps again, but you’ll choose “Long-term Category” from the drop-down list.
Step 9: In the corresponding columns, type in the “Total Proceeds” and “Total Cost Basis” from the short-term sales. Then click “Continue.”
- Note: You can find those totals listed on the 8949, at the bottom of the section that you selected (for either short term or long term gains/losses).
Step 10: Finally a summary page will be displayed. Click on “Continue” and you are all set!
- Go back to complete Steps 7 through 10 to enter long-term gains/losses or if you have multiple 8949 forms.
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