Do you need a Schedule D 8949?

Most people use the Schedule D form to report capital gains and losses that result from the sale or trade of certain property during the year. In 2011, however, the Internal Revenue Service created a new form, Form 8949, that some taxpayers will have to file along with their Schedule D and 1040 forms.

What is schedule d 1040 & 8949?

Schedule D of Form 1040 is used to report most capital gain (or loss) transactions. Before you can enter your net gain or loss on Schedule D, you must complete Form 8949. Anyone who sells or exchanges a capital asset such as stock, land, or artwork must complete Form 8949.

What is form 8949?

Use Form 8949 to reconcile amounts that were reported to you and the IRS on Form 1099-B or 1099-S (or substitute statement) with the amounts you report on your return. The subtotals from this form will then be carried over to Schedule D (Form 1040), where gain or loss will be calculated in aggregate.