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Level 15
Level 15

Investors & landlords

Form 8949 actually does segregate sales of collectibles. The sale of collectibles is identified on Form 8949 by putting adjustment code C in column (f) for the sale.

 

The sales of collectibles are totaled on the 28% Rate Gain Worksheet, and the result of that worksheet goes to Schedule D line 18. The Schedule D line 18 amount goes to the Schedule D Tax Worksheet. The calculation of the tax for the return is done on the Schedule D Tax Worksheet, which applies the appropriate percentage to each type of income.