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Aug 31, 2023 · According to the IRS, individuals, partnerships, corporations, trusts, and estates can use Form 8949 to report the following: The sale or exchange of a capital asset not reported on another form. Gains from involuntary conversions of capital assets not used in your trade or field of business.
If you sold some stocks this year, you're probably aware that you will need to include some information on your tax return. What you may not realize, is that you'll need to report every transaction on an IRS Form 8949 in addition to a Schedule D. To find out more about form 8949, watch this video.
Nov 10, 2023 · IRS Form 8949 is used for reporting either short-term or long-term capital gains and losses for tax purposes. It is important to fill out this form but it also needs a Schedule D along with a Form 1099-B which must be provided by exchanges to the taxpayers.
