It is possible, under specific circumstances, to report the combined amounts of short-term or long-term transactions directly on Lines 1a and 8a of Federal Schedule D (Form 1040) Capital Gains and Losses. This will work for any transactions meeting the specific criteria, other than transactions for the sales of collectibles.

Per IRS Instructions for Schedule D, page D-10:

Lines 1a and 8a— Transactions Not Reported on Form 8949

You can report on line 1a (for short-term transactions) or line 8a (for long-term transactions) the aggregate totals from any transactions (except sales of collectibles) for which:

• You received a Form 1099-B (or substitute statement) that shows basis was reported to the IRS and doesn't show any adjustments in box 1f or 1g;
• The Ordinary box in box 2 isn’t checked;
• The QOF box in box 3 isn’t checked;
• You aren’t electing to defer income due to an investment in a QOF and aren’t terminating deferral from an investment in a QOF; and
• You don't need to make any adjustments to the basis or type of gain or loss reported on Form 1099-B (or substitute statement), or to your gain or loss. See How To Complete Form 8949, Columns (f) and (g) in the Form 8949 instructions for details about possible adjustments to your gain or loss.

If you choose to report these transactions on lines 1a and 8a, don't report them on Form 8949. You don't need to attach a statement to explain the entries on lines 1a and 8a and, if you e-file your return, you don't need to file Form 8453.

Figure gain or loss on each line. Subtract the cost or other basis in column (e) from the proceeds (sales price) in column (d). Enter the gain or loss in column (h). Enter negative amounts in parentheses.

If your transactions meet the criteria, you can create separate entries for short-term and long-term transaction information in the TaxAct program (if you need help accessing Form 1099-B, go to our Form 1099-B - Entering Capital Gains and Losses in Program FAQ):

1. From within your Form 1099-B, on the screen titled Investment Sales - Transaction Details, click the data entry field below 1a. Description, and type "Aggregate total for line 1a per IRS instructions" (for short-term transactions) or "Aggregate total for line 8a per IRS instructions" (for long-term transactions).
2. Click the data entry field below 1b. Date acquired, and type "Various", click the data entry field below 1c. Date sold or exchanged, and enter the last day of the year.
3. On the screen titled Investment Sales - Reporting Category, click the Form 8949 category dropdown, then click A - Short-term transaction in which basis was reported to the IRS or D - Long-term transaction in which basis was reported to the IRS.
4. On the second screen titled Investment Sales - Transaction Details, click the data entry field below 1d. Sales proceeds and type the aggregate amount, then click the data entry field below 1e. Cost or other basis and type the aggregate amount.
5. On the screen titled Investment Sales - Adjustment Code(s), per the IRS instructions, don't choose an adjustment code from the Other adjustment code dropdown.

When you print your return, you will see the aggregate gain or loss reflected on Schedule D.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.