Our return is not that complex. Most of the paper submitted was supporting documentation from the stock trades made in 2007. In the past, I had be transferring the data to an excel spreadsheet and attaching it. However, this year, I found out that the IRS accepts the gain/loss summary from my brokerage, if I attach it to the return. So I asked my broker to send an extra copy and I mailed it in as an attachment to the Schedule D.
Filing electronically would not have reduced the the amount of paper much, unless I entered each stock transaction, which would also have taken a lot of time. So I still would have sent the brokerage gain/loss statements separately with Form 8453.
Someday, I expect the government will require brokerages to withhold taxes, as is currently done for wages. If so, it will probably reduce both my time and paperwork involved for filing taxes.
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This is not financial or tax advice. Please consult a professional advisor.
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