📢What Is IRS Form 8949? A Clear, Simple Overview Heading 1: Understanding the Basics of Form 8949 If you've sold stocks, bonds, or other investment assets, the IRS may require you to report your capital gains or losses using Form 8949. This form helps track each transaction you've made, including the dates of acquisition and sale, cost basis, and gain or loss amount. Form 8949 is typically used in combination with Schedule D, which summarizes your total capital gains and losses for the year. Heading 2: Who Needs to File Form 8949? You may need to file Form 8949 if you: Sold stocks, ETFs, or mutual funds Traded cryptocurrency Sold a home or other real estate not covered by exclusions Disposed of personal or business-use property Received a corrected 1099-B form from a broker If your brokerage didn’t provide all the cost basis details to the IRS, you are often required to list each transaction on Form 8949—even if they also appear on Schedule D. Heading 3...
What Is IRS Form 8949? A Clear, Simple Overview