GiseleD
Expert Alumni

Investors & landlords

According to the IRS instructions for Form 8949, there are exceptions to reporting on Form 8949. It sounds like you met one. Please read on:

 

Exception 1.

 

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 and aren’t terminating deferral from an investment in a QOF.

If you choose to report these transactions directly on Schedule D, you don't need to include them on Form 8949 and don't need to attach a statement. For more information, see the Schedule D instructions.

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