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William Perez

Revised Form 1099-B, Schedule D and New Form 8949 Debut in 2011 for Reporting Capital Gains

By August 16, 2011

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How we'll be reporting capital gains and losses will be changing for 2011 as a result of new forms being developed by the IRS. Currently, all capital gains or losses are detailed on Schedule D (with additional transactions reported on Schedule D-1 if more room is needed to report all the transactions). Starting with 2011, however, the transaction details will be reported on the new Form 8949, Sales and Other Dispositions of Capital Assets, with various totals carried to Schedule D. The IRS is also revising Form 1099-B, the tax document that brokers issue to investors when a security is sold. Over time, brokers will be required to track and report to investors the cost basis of investments that were sold.

I briefly discuss the new Form 8949 and the revised Schedule D in my new article, Changes to Reporting Capital Gains and Losses. You can download draft versions of the new forms from the IRS Web site:

Comments
March 17, 2012 at 2:42 am
(1) Stephen says:

I used Trademax to Finish my form 8949 and I am impressed with it. It’s really very good. I believe there will be many people who will like it.

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