Irs 8949 Instructions Form PDF Details

The Irs 8949 instructions form is a complex and detailed document that can be difficult to understand without some help. This form is used by taxpayers to report capital gains and losses from sales, exchanges, or dispositions of assets. If you're not sure how to complete this form, don't worry - we're here to help. In this article, we'll take a look at the 8949 instructions form and explain how to complete it correctly. We'll also provide some tips for minimizing your tax liability on capital gains.

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QuestionAnswer
Form NameIrs 8949 Instructions Form
Form Length2 pages
Fillable?Yes
Fillable fields1
Avg. time to fill out42 sec
Other namesinstructions for form 8949, 2020 irs 8949 instructions, 8949 instructions, form 8949 for

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Form 8949

Sales and Other Dispositions of Capital Assets

OMB No. 1545-0074

 

2021

Department of the Treasury

Go to www.irs.gov/Form8949 for instructions and the latest information.

File with your Schedule D to list your transactions for lines 1b, 2, 3, 8b, 9, and 10 of Schedule D.

Attachment

Internal Revenue Service

Sequence No. 12A

Name(s) shown on return

 

Social security number or taxpayer identification number

 

 

 

 

Before you check Box A, B, or C below, see whether you received any Form(s) 1099-B or substitute statement(s) from your broker. A substitute statement will have the same information as Form 1099-B. Either will show whether your basis (usually your cost) was reported to the IRS by your broker and may even tell you which box to check.

Part I Short-Term. Transactions involving capital assets you held 1 year or less are generally short-term (see instructions). For long-term transactions, see page 2.

Note: You may aggregate all short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS and for which no adjustments or codes are required. Enter the totals directly on Schedule D, line 1a; you aren’t required to report these transactions on Form 8949 (see instructions).

You must check Box A, B, or C below. Check only one box. If more than one box applies for your short-term transactions, complete a separate Form 8949, page 1, for each applicable box. If you have more short-term transactions than will fit on this page for one or more of the boxes, complete as many forms with the same box checked as you need.

(A) Short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above)

(B) Short-term transactions reported on Form(s) 1099-B showing basis wasn’t reported to the IRS

(C) Short-term transactions not reported to you on Form 1099-B

1

 

 

 

 

Adjustment, if any, to gain or loss.

 

 

 

 

(e)

If you enter an amount in column (g),

(h)

(a)

(b)

(c)

(d)

Cost or other basis.

enter a code in column (f).

Gain or (loss).

Date sold or

Proceeds

See the Note below

See the separate instructions.

Subtract column (e)

Description of property

Date acquired

disposed of

(sales price)

and see Column (e)

 

 

from column (d) and

(Example: 100 sh. XYZ Co.)

(Mo., day, yr.)

(f)

(g)

(Mo., day, yr.)

(see instructions)

in the separate

combine the result

 

 

Code(s) from

 

 

 

 

instructions

Amount of

with column (g)

 

 

 

 

 

instructions

adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2 Totals. Add the amounts in columns (d), (e), (g), and (h) (subtract

 

 

 

 

 

negative amounts). Enter each total here and include on your

 

 

 

 

 

Schedule D, line 1b (if Box A above is checked), line 2 (if Box B

 

 

 

 

 

above is checked), or line 3 (if Box C above is checked)

 

 

 

 

 

Note: If you checked Box A above but the basis reported to the IRS was incorrect, enter in column (e) the basis as reported to the IRS, and enter an adjustment in column (g) to correct the basis. See Column (g) in the separate instructions for how to figure the amount of the adjustment.

For Paperwork Reduction Act Notice, see your tax return instructions.

Cat. No. 37768Z

Form 8949 (2021)

Form 8949 (2021)

Attachment Sequence No. 12A

Page 2

Name(s) shown on return. Name and SSN or taxpayer identification no. not required if shown on other side

Social security number or taxpayer identification number

Before you check Box D, E, or F below, see whether you received any Form(s) 1099-B or substitute statement(s) from your broker. A substitute statement will have the same information as Form 1099-B. Either will show whether your basis (usually your cost) was reported to the IRS by your broker and may even tell you which box to check.

Part II Long-Term. Transactions involving capital assets you held more than 1 year are generally long-term (see instructions). For short-term transactions, see page 1.

Note: You may aggregate all long-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS and for which no adjustments or codes are required. Enter the totals directly on Schedule D, line 8a; you aren’t required to report these transactions on Form 8949 (see instructions).

You must check Box D, E, or F below. Check only one box. If more than one box applies for your long-term transactions, complete a separate Form 8949, page 2, for each applicable box. If you have more long-term transactions than will fit on this page for one or more of the boxes, complete as many forms with the same box checked as you need.

(D) Long-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above)

(E) Long-term transactions reported on Form(s) 1099-B showing basis wasn’t reported to the IRS

(F) Long-term transactions not reported to you on Form 1099-B

1

 

 

 

 

Adjustment, if any, to gain or loss.

 

 

 

 

(e)

If you enter an amount in column (g),

(h)

(a)

(b)

(c)

(d)

Cost or other basis.

enter a code in column (f).

Gain or (loss).

Date sold or

Proceeds

See the Note below

See the separate instructions.

Subtract column (e)

Description of property

Date acquired

disposed of

(sales price)

and see Column (e)

 

 

from column (d) and

(Example: 100 sh. XYZ Co.)

(Mo., day, yr.)

(f)

(g)

(Mo., day, yr.)

(see instructions)

in the separate

combine the result

 

 

Code(s) from

 

 

 

 

instructions

Amount of

with column (g)

 

 

 

 

 

instructions

adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2 Totals. Add the amounts in columns (d), (e), (g), and (h) (subtract

 

 

 

 

 

negative amounts). Enter each total here and include on your

 

 

 

 

 

Schedule D, line 8b (if Box D above is checked), line 9 (if Box E

 

 

 

 

 

above is checked), or line 10 (if Box F above is checked)

 

 

 

 

 

 

 

 

 

 

 

 

 

Note: If you checked Box D above but the basis reported to the IRS was incorrect, enter in column (e) the basis as reported to the IRS, and enter an adjustment in column (g) to correct the basis. See Column (g) in the separate instructions for how to figure the amount of the adjustment.

Form 8949 (2021)

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Jot down any details you are required inside the segment Attachment, Sequence, No, A Page, Description, of, property Examples, h, XYZ, Co Date, acquired, Mo, day, yr Dates, old, or, disposed, of, Mo, day, yr Proceeds, sales, price see, instructions in, the, separate instructions, enter, a, code, in, column, f See, the, separate, instructions Codes, from, instructions Amount, of, adjustment and Gain, or, loss

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