Get the free form 8949 for 2004 year - irs

Caution: DRAFT--NOT FOR FILING This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is providing for your information as a courtesy. Do not file draft forms.

How to fill out form 8949 for 2004

How to fill out form 8949 for 2004:

1. Begin by gathering all the necessary information, including the date of each transaction, the description of the property or securities sold, the proceeds from the sale, and the cost basis.
2. Determine the type of property or securities being sold. Form 8949 is used to report the sales of capital assets, such as stocks, bonds, real estate, or other investments.
3. Separate the transactions into different categories based on the holding period. Short-term capital gains or losses are those from assets held for one year or less, while long-term capital gains or losses are from assets held for more than one year.
4. Proceed to complete Part I of form 8949 for short-term transactions. Enter the necessary information for each individual transaction, including the date acquired, the date sold, the proceeds, the cost or other basis, and the gain or loss. Repeat this process for each short-term transaction.
5. Move on to Part II of form 8949 for long-term transactions. Follow the same steps as in Part I, entering the relevant details for each long-term transaction.
6. Once all the transactions have been listed in form 8949, calculate the totals for each section and transfer them to Schedule D. This schedule is used to summarize all the capital gains and losses reported on form 8949.
7. Finally, attach Schedule D to your individual tax return, Form 1040, when filing your taxes for the year 2004.

Who needs form 8949 for 2004:

1. Individuals who have sold capital assets during the year 2004 may need to fill out form 8949. This form is required to report any gains or losses from the sale of investments, such as stocks, bonds, or real estate.
2. Taxpayers who have received a Form 1099-B from their broker or financial institution indicating the proceeds from the sale of a capital asset will likely need to fill out form 8949 to report the transaction.
3. It is important to note that form 8949 is not required for every taxpayer. If you did not have any capital asset sales or if you qualify for certain exemptions, you may not need to file this form. However, it is always advisable to consult with a tax professional or the IRS to determine your specific filing requirements.

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What is form 8949 for year?

Form 8949 is used to report sales and other dispositions of capital assets during the tax year.

Who is required to file form 8949 for year?

Individuals or entities who have sold or disposed of capital assets during the tax year are required to file form 8949.

How to fill out form 8949 for year?

Form 8949 should be filled out with details of each capital asset sale or disposition, including the date acquired and sold, sales price, cost basis, and gain or loss.

What is the purpose of form 8949 for year?

The purpose of form 8949 is to report capital asset transactions to the IRS for tax purposes.

What information must be reported on form 8949 for year?

Information such as the description of the property, date acquired and sold, sales price, cost basis, and gain or loss must be reported on form 8949.