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If I need to Fill out 3 separate Forms 8949, Do I use only ONE Schedule D? or should I have 1 schedule D for each 8949? Thank you in advance.

The first Form 8949 is not really needed as it is "Covered Tax Lots" for stock short selling with Robinhood. The second is from Robinhood "Non Covered Tax Lots". So, I'll be attaching a spreadsheet with the MANY short sales made and then carried over to a SEPARATE Schedule D. I have a Crypto Wallet with other transactions I need to report. I'm assuming I need to create a third 8949 Form, BUT my question is: Do I only use 1 Schedule D for all 3 Forms? or 2 Forms for Covered and Non Covered Tax Lots, Or should I be using a one 8949 with one Schedule D?
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1 Reply
DianeW777
Employee Tax Expert

If I need to Fill out 3 separate Forms 8949, Do I use only ONE Schedule D? or should I have 1 schedule D for each 8949? Thank you in advance.

Yes, one Schedule D is used for all investment transactions of redemptions, sale or expiration. Likewise you need only one 8949 and information will carry to one Schedule D.

 

You can mail your forms 1099-B with form 8453 and Form 8949 after you e-file. TurboTax will indicate and provide the following information.

 

If you are e-filing your tax return, then mail your statements along with Form 8453 to the following address within three days after the IRS accepts your tax return: 

 

Internal Revenue Service

Attn: Shipping and Receiving, 0254 

Receipt and Control Branch 

Austin, TX 73344-0254

 

If you need a blank Form 8453, you can download this pdf, enter your address information and check the box for Form 8949 (this form is really just a cover sheet).

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