You may not need Form 8949. Form 8949 is not required if all of the following are true:
- No adjustments to cost basis are necessary.
- The Ordinary box in box 2 isn’t checked. Box 2 on Form 1099-B relates to short-term gain/loss and long-term gain/loss. If the Ordinary box is checked, your security may be subject to special rules. And,
- You are not electing to defer income due to an investment in a Qualified Opportunity Fund and are not terminating deferral from an investment in a QOF.
If the above three conditions are met, then a Form 8949 is not necessary. Generally, 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. Thus, see if your two transactions meet the three conditions referenced above. If they do, then Form 8949 is not needed.
@Natcoh
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
