GeorgeM777
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@hlabate    You may not have to separately list all of your transactions on Form 8949.  Let's take a look at the exception that might apply in your case.  

 

According to the IRS, Form 8949 isn't required for certain transactions. You may be able to aggregate those transactions and report them directly on either line 1a (for short-term transactions) or line 8a (for long-term transactions) of Schedule D. This option applies only to transactions (other than sales of collectibles) for which:

  • You received a Form 1099-B (or substitute statement) that shows basis was reported to the IRS and doesn't show any adjustments in box 1f or 1g;

  • The Ordinary box in box 2 isn’t checked;

  • You don't need to make any adjustments to the basis or type of gain (or loss) reported on Form 1099-B (or substitute statement), or to your gain (or loss); and

  • You aren’t electing to defer income due to an investment in a QOF (Qualified Opportunity Fund) and aren’t terminating deferral from an investment in a QOF.

Based on your question, it appears you did receive a 1099-B, and therefore, the first bullet point above has been met.  However, what is also required is that your basis (cost) has already been reported to the IRS.  Assuming your basis was reported to the IRS, as long you don't have to make any adjustments to your basis, then you may not need to report your transactions separately on Form 8949.  The last bullet point deals with an investment in a Qualified Opportunity Fund, and if you made no investment in a QOF, and assuming the other bullet points above are satisfied, then you may not need to file Form 8949. 

 

You also mentioned Box E.  According to the IRS, you will need to report in Part II of Form 8949 with box E checked all long-term transactions reported to you on Form 1099-B (or substitute statement) without an amount shown for cost or other basis or showing that cost or other basis wasn't reported to the IRS.  The key point to remember with regard to Box E is that your basis is not shown on your 1099-B or your basis was not reported to the IRS.  In other words, if your cost is not shown on your 1099-B, or your basis was not reported to the IRS, then for those transactions you will need to include them on Form 8949.  

 

You asked about the meaning of "ordinary."  In the tax context, ordinary refers to income that is taxed according to the regular U.S. tax brackets and includes many types of income such as the short-term or long-term capital gains on your 1099-B, including any of qualified dividends.

 

To help you better understand Form 8949, below is a link to the IRS instructions for Form 8949 which you might find helpful. 

 

Instructions for Form 8949

 

 

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