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biatch
New Member

Why did some of my equity sales go to form 8949 and some to 1099-B worksheet, which should have gone to form 8949?

 
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1 Reply
GiseleD
Expert Alumni

Why did some of my equity sales go to form 8949 and some to 1099-B worksheet, which should have gone to form 8949?

Please note, we cannot see your return or sales here, as this is a public forum. Regarding the sales on the 1099-B worksheet, did they still appear on your Schedule D? If so, according to the IRS instructions for Form 8949:

 

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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