Cat. No. 37768Z Form 8949 2017 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. 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. 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. 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. 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. Form Department of the Treasury Internal Revenue Service Sales and Other Dispositions of Capital Assets 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. 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. 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. 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.
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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
To edit the IRS 8949 form, start by downloading the form from the IRS website or obtaining it through a tax professional. Once you have the form, enter the required details using a PDF editor, like pdfFiller, which allows for easy modifications. Make sure to save the edited copy securely and print out a physical version if submitting the form via mail.
How to fill out IRS 8949
To fill out IRS 8949, gather all necessary financial documentation related to your capital gains and losses. Use the IRS 8949 form to list each transaction separately, including details such as the date acquired, date sold, proceeds, cost basis, and gain or loss. Ensure that all calculations are accurate and double-check your entries for completeness.
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
Due date
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 to report sales and exchanges of capital assets. This includes stocks, bonds, and real estate transactions. Taxpayers must use this form to detail their capital gains and losses to accurately report income on their federal tax return.
What is the purpose of this form?
The purpose of IRS 8949 is to provide a detailed record of capital asset transactions. It distinguishes between short-term and long-term gains and losses, allowing the IRS to assess the appropriate tax implications. This form aids in calculating overall taxable income accurately and ensures compliance with tax regulations.
Who needs the form?
Taxpayers who have sold or exchanged capital assets during the tax year are required to file IRS 8949. This includes individual taxpayers, business owners, and any entity that realizes a capital gain or loss. Even if you have not sold assets, you may still need to report transactions if they affect the basis of the asset or if there are transfers resulting in losses.
When am I exempt from filling out this form?
You are exempt from filing IRS 8949 if your transactions do not result in capital gains or losses, such as ordinary income. Additionally, if all your transactions are reported on a 1099-B form with the basis reported to the IRS, you may not need to file IRS 8949, but this exemption should be verified with a tax professional.
Components of the form
IRS 8949 consists of several key sections. These include columns for the date acquired, date sold, proceeds, cost or other basis, adjustment codes, and gain or loss results. Each transaction must be clearly documented to ensure accurate reporting and compliance with IRS requirements.
Due date
The due date for submitting IRS 8949 aligns with the federal tax return filing deadline. For most individual taxpayers, this is typically on April 15 of the following year. If you file for an extension, ensure that IRS 8949 is submitted by the new deadline to avoid penalties.
What are the penalties for not issuing the form?
Failing to issue or accurately complete IRS 8949 can result in significant penalties. The IRS may impose fines for inaccurate reporting or late submissions. Penalties can vary based on the severity of the oversight and may also include interest on owed taxes.
What information do you need when you file the form?
When filing IRS 8949, you need detailed information on each capital transaction. Collect the following data: date acquired, date sold, amount received from the sale (proceeds), your cost basis, and any adjustments related to the transaction. This information is crucial for completing the form accurately and ensuring compliance with IRS regulations.
Is the form accompanied by other forms?
IRS 8949 is typically accompanied by Schedule D when filing your federal tax return. Schedule D summarizes the information reported on IRS 8949 and aggregates total capital gains or losses. Ensure that both forms are accurately completed to reflect the financial activity of the tax year.
Where do I send the form?
The submission address for IRS 8949 varies based on your filing method and state of residence. If you are filing by mail, refer to the IRS website for the appropriate mailing addresses. If you are e-filing, ensure that software utilized correctly formats and submits the form electronically.
FAQ about IRS 8949
What should I do if I discover an error after submitting my IRS 8949?
If you find a mistake after filing your IRS 8949, you can file an amended return using Form 1040-X to correct the errors. Ensure that you provide accurate details regarding the changes, and consult IRS guidelines for any specific requirements related to your amendment.
How can I verify if my IRS 8949 submission has been received?
To check the status of your IRS 8949 submission, you can use the IRS 'Where's My Refund?' tool if you filed electronically or contact the IRS directly for information on paper submissions. Make sure to have your details ready for reference.
Are e-signatures acceptable when filing IRS 8949 electronically?
Yes, e-signatures are accepted for IRS 8949 submissions when filing electronically. Ensure that your e-filing provider complies with IRS requirements regarding electronic signatures to guarantee the integrity of your submission.
What are common errors when filing IRS 8949 and how can they be avoided?
Common errors when filing IRS 8949 include incorrect transaction dates, miscalculating gains or losses, and failing to categorize transactions properly. To avoid these mistakes, double-check all entries and use reliable accounting software that can streamline the process.
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