Instructions for IRS Form 8949 Sales and Other Dispositions of Capital Assets

This document contains official instructions for IRS Form 8949 , Sales and Other Dispositions of Capital Assets - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury.

FAQ

Q: What is IRS Form 8949?
A: IRS Form 8949 is used to report sales and other dispositions of capital assets.

Q: When is IRS Form 8949 required?
A: IRS Form 8949 is required when you have sold or disposed of capital assets during the tax year.

Q: What information is needed for IRS Form 8949?
A: You'll need to provide details of each sale or disposition, including the date acquired, date sold, proceeds, cost basis, and gain or loss.

Q: Can I e-file IRS Form 8949?
A: Yes, you can e-file IRS Form 8949 along with your tax return.

Q: What are capital assets?
A: Capital assets are items such as stocks, bonds, real estate, and other investments that are subject to capital gains tax when sold or disposed of.

Q: Do I need to report every sale on IRS Form 8949?
A: Yes, you need to report every sale or disposition of capital assets on IRS Form 8949.

Q: What is the deadline for filing IRS Form 8949?
A: IRS Form 8949 is usually filed along with your annual tax return, which is typically due on April 15th.

Q: Are there any exceptions or special rules for IRS Form 8949?
A: Yes, there are exceptions and special rules for certain types of transactions, such as wash sales or like-kind exchanges. Consult the instructions for Form 8949 for more information.

Q: What happens if I make a mistake on IRS Form 8949?
A: If you make a mistake on IRS Form 8949, you may need to file an amended tax return using Form 1040X to correct the error.