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Frequently Asked Questions

When to file Form 8949?

Individuals. Individuals use Form 8949 to report the following. The sale or exchange of a capital asset not reported on another form or schedule. Gains from involuntary conversions (other than from casualty or theft) of capital assets not used in your trade or business.

What is IRS Form 8949 used for?

IRS form 8949 is used by taxpayers to report their capital gains and losses for the year. The form is used to calculate the taxpayer's net capital gain or loss for the year, which is then reported on their tax return. Form 8949 must be filed with the taxpayer's tax return if they have any capital gains or losses for the year.

What is form 8949 used for?

Use Form 8949 to report sales and exchanges of capital assets. Form 8949 allows you and the IRS to reconcile amounts that were reported to you and the IRS on Forms 1099-B or 1099-S (or substitute statements) with the amounts you report on your return.

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