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Board of Governors of the Federal Reserve SystemOMB Number: 71000032 Approval expires October 31, 2018 Page 1 of 30Federal Financial Institutions Examination CouncilReport of Assets and Liabilities
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88 fr 89489 is better known as Form 8949, which is used to report sales and dispositions of capital assets.
Individuals, partnerships, corporations, and trusts that have capital asset transactions are required to file Form 8949.
Form 8949 is filled out by reporting the details of each capital asset transaction, including the date acquired, date sold, sales price, and cost basis.
The purpose of Form 8949 is to report capital asset transactions to the IRS and calculate any capital gains or losses.
Information such as the description of the property, dates acquired and sold, proceeds from the sale, and cost basis must be reported on Form 8949.
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