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Investors & landlords
For @jared5537 and others wanting to know "what is code N", you can refer to IRS instructions for form 8949.
https://www.irs.gov/instructions/i8949
IF . . . | THEN enter this code in column (f) . . . | AND. . . |
You received a Form 1099-B or 1099-S (or substitute statement) as a nominee for the actual owner of the property | N | Report the transaction on Form 8949 as you would if you were the actual owner, but also enter any resulting gain as a negative adjustment (in parentheses) in column (g) or any resulting loss as a positive adjustment in column (g). As a result of this adjustment, the amount in column (h) should be zero. However, if you received capital gain distributions as a nominee, report them instead, as described under Capital Gain Distributions in the Instructions for Schedule D (Form 1040). |
‎February 20, 2024
8:26 AM