Cat. No. 37768Z Form 8949 2016 Attachment Sequence No. 12A Page 2 Long-Term. Transactions involving capital assets you held more than 1 year are long term. For short-term 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. Form Department of the Treasury Internal Revenue Service Sales and Other Dispositions of Capital Assets Information about Form 8949 and...its separate instructions is at www*irs*gov/form8949. File with your Schedule D to list your transactions for lines 1b 2 3 8b 9 and 10 of Schedule D. OMB No* 1545-0074 Attachment Sequence No* 12A Social security number or taxpayer identification number Name s shown on return 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 short term* 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 a Description...of property Example 100 sh. XYZ Co. b Date acquired Mo. day yr. c Date sold or disposed of d Proceeds sales price see instructions Adjustment if any to gain or loss. If you enter an amount in column g e h enter a code in column f. Cost or other basis. Gain or loss. See the separate instructions. See the Note below Subtract column e and see Column e from column d and f g in the separate combine the result Code s from with column g Amount of adjustment 2 Totals. Add the amounts in columns d e g...and h subtract negative amounts. Enter each total here and include on your 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. 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.
pdfFiller is not affiliated with IRS
Get, Create, Make, and Sign IRS 8949
Edit your IRS 8949 online
Type text, complete fillable fields, insert images, highlight or blackout data for discretion, add comments, and more.
Add your legally-binding signature
Draw or type your signature, upload a signature image, or capture it with your digital camera.
Share your form instantly
Email, fax, or share your IRS 8949 via URL. You can also download, print, or export forms to your preferred cloud storage service.
Instructions and Help about IRS 8949
How to edit IRS 8949
How to fill out IRS 8949
Instructions and Help about IRS 8949
How to edit IRS 8949
Editing IRS 8949 requires careful attention to the details provided. Utilize a secure platform like pdfFiller, which allows users to seamlessly amend fields within the form. Ensure that all corrections are made before printing or submitting to avoid any discrepancies with the IRS.
How to fill out IRS 8949
Filling out IRS 8949 involves several critical steps to ensure proper reporting of capital gains and losses. Begin by gathering all relevant documentation related to sold or exchanged assets. Follow these steps:
01
Obtain the latest version of Form 8949 from the IRS website or a trusted tax resource.
02
Identify the columns on the form: description of property, date acquired, date sold, proceeds, cost or other basis, and adjustments.
03
Enter each transaction accurately in the appropriate columns, ensuring to classify short-term and long-term transactions correctly.
04
Transfer the totals to Schedule D of your tax return as needed.
About IRS 8 previous version
What is IRS 8949?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS 8 previous version
What is IRS 8949?
IRS 8949 is a tax form used by U.S. taxpayers to report sales and exchanges of capital assets. This form is critical for determining capital gains and losses for reporting on your federal income tax return.
What is the purpose of this form?
The purpose of IRS 8949 is to provide the IRS with detailed information on the sale or exchange of assets, such as stocks, bonds, and real estate. Reporting these transactions accurately helps determine whether the taxpayer owes taxes on capital gains or if they can deduct losses.
Who needs the form?
Taxpayers who have sold or exchanged capital assets during the tax year must fill out IRS 8949. This includes individuals who sell stocks, bonds, or real estate, and it is especially important for those who have undergone various transactions throughout the year.
When am I exempt from filling out this form?
You may be exempt from filing IRS 8949 if you do not have any capital gains or losses to report. Additionally, if all your transactions qualify for the "basis reported to the IRS" category and you received a Form 1099-B that includes all required information, you might not need to complete this form.
Components of the form
IRS 8949 consists of several components, including detailed sections for describing the asset sold, the date acquired, the date sold, the amount received from the sale, and the original cost basis. Each entry is crucial for determining the taxable event and should be accurately filled in.
What are the penalties for not issuing the form?
Failing to issue IRS 8949 when required can result in penalties from the IRS. This may include fines or increased scrutiny of your tax filings. Additionally, the failure to report capital gains can lead to owing back taxes plus interest on any overlooked amounts.
What information do you need when you file the form?
When filing IRS 8949, you'll need specific information, including details of each transaction, such as the date acquired, date sold, proceeds from the sale, and the cost basis. Having access to transaction statements and relevant receipts will simplify completing the form.
Is the form accompanied by other forms?
IRS 8949 is typically submitted alongside Schedule D of the Form 1040. Schedule D summarizes your capital gains and losses and relies on the detailed reporting provided on IRS 8949.
Where do I send the form?
The completed IRS 8949 should be sent to the address specified in the instructions for Form 1040. This varies based on your state of residence and whether you are enclosing a payment. Make sure to verify the correct address for submission each tax year.
FAQ about IRS 8949
What should I do if I realize I made a mistake on my IRS 8949 after submission?
If you discover an error on your IRS 8949 after filing, you can correct it by submitting Form 1040-X to amend your return. Be sure to include an explanation of the changes and attach any relevant documentation. It's important to address mistakes promptly to avoid penalties or complications with the IRS.
How can I check the status of my IRS 8949 after I have e-filed it?
To verify the status of your e-filed IRS 8949, you can use the IRS 'Where's My Refund?' tool or check your IRS online account. They provide updates on the processing status, which can help you confirm if your form has been received and is being processed.
What should I do if my e-filed IRS 8949 is rejected?
If your IRS 8949 is rejected after e-filing, you will receive a rejection notice detailing the issues. Correct the identified errors and re-file your form as soon as possible. Being proactive in fixing these errors can help prevent delays in your tax processing.
Can I file IRS 8949 on behalf of someone else?
Yes, you can file the IRS 8949 on behalf of someone else if you have obtained the proper authorization, typically through a Power of Attorney (POA) document. Ensure that the POA is properly executed and submitted to the IRS, as this grants you the legal authority to act on their behalf during the filing process.
See what our users say
Read user feedback and try pdfFiller to explore all its benefits for yourself
It is a very convenient way to handle PDF's
Rtic J
Conversion to Word is poor--at least on my computer.
Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
