JohnB5677
Employee Tax Expert

Get your taxes done using TurboTax

These two forms are similar, but they report slightly different things.

 

"Sales and Other Dispositions of Capital Assets" is an IRS form used by individuals, and businesses to report capital gains and losses from capital assets.   

 

This form will document:

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

Non-business bad debts

The worthlessness of a security

The election to defer capital gain invested in a Qualified Opportunity Fund

The disposition of interests in Qualified Opportunity Funds

This is not a change, and it is normal.

 

Both of the information forms (1099-B, and Disposition of Capital assets), will be entered for every transaction, like last year.

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