Get the free Form 8947 (Rev. October 2011). Report of Branded Prescription Drug Information

Form 8947: Report of Branded Prescription Drug Information Read the instructions before you complete Form 8947. OMB No. 15452192 (Rev. October 2011) Department of the Treasury Internal Revenue Service

How to fill out form 8947 rev october

How to fill out form 8947 rev october

1. To fill out form 8947 rev October, follow these steps:
2. Gather all necessary information such as your personal details, the details of the stock sales or exchanges, and any relevant supporting documents.
3. Start by entering your personal information, including your name, taxpayer identification number (TIN), and the tax year for which you are filing the form.
4. Proceed to Part I of the form where you will report the details of the stocks or securities sold or exchanged. Fill in the required information such as the name of the stock, the number of shares sold, the date acquired and sold, and the cost or other basis of the stock.
5. If you had any adjustments to the reported basis, such as adjustments for wash sales or market discount, provide the necessary details in Part II of the form.
6. If you are reporting multiple transactions, continue to provide the required information for each transaction in the subsequent rows of the form.
7. If you need to report any additional information or explanations, you can use the provided space in Part III of the form.
8. When you have completed filling out the form, review it carefully to ensure accuracy and completeness.
9. Attach any supporting documents as required, such as the Schedule D if you also need to report capital gains or losses.
10. Finally, sign and date the form.
11. Remember to keep a copy of the completed form and supporting documents for your records.
12. Note: It is always recommended to consult a tax professional or refer to the official instructions provided by the Internal Revenue Service (IRS) for detailed guidance on filling out form 8947 rev October.

Who needs form 8947 rev october?

1. Form 8947 rev October is needed by individuals who have engaged in the sale or exchange of stocks or securities and need to report these transactions to the Internal Revenue Service (IRS).
2. Specifically, individuals who have disposed of stocks or securities for which they received a Form 1099-B or substitute statement showing basis was reported to the IRS need to fill out form 8947.
3. Form 8947 helps in calculating the correct amount of capital gain or loss and ensures that accurate information is reported to the IRS for tax purposes.
4. If you have not received a Form 1099-B or equivalent statement and have no adjustments to the basis or acquisition date, you may not need to file form 8947.
5. However, it is essential to consult a tax professional or refer to the official instructions provided by the IRS to determine your specific filing requirements.

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What is form 8947 rev october?

Form 8947 rev october is a tax form used to report information regarding payments made to foreign financial institutions and certain non-financial foreign entities.

Who is required to file form 8947 rev october?

Any U.S. person who makes payments to foreign financial institutions or certain non-financial foreign entities is required to file form 8947 rev october.

How to fill out form 8947 rev october?

Form 8947 rev october should be filled out by providing information about the payer, recipient, and the amount of payment made to foreign entities.

What is the purpose of form 8947 rev october?

The purpose of form 8947 rev october is to report information about payments made to foreign entities for tax compliance purposes.

What information must be reported on form 8947 rev october?

Information such as the name, address, and taxpayer identification number of the payer and recipient, as well as the amount of payment made, must be reported on form 8947 rev october.