Wednesday, November 2, 2011

Reporting capital gains for 2011 is going to be more complicated

You will now have to use two forms to report capital gains for 2011:  Form 8949 and Schedule D.  Basis reporting rules went into effect for securities bought after 2010 and sold in 2011 and later.  All sales will be listed on the 8949, and the totals will be carried to Schedule D.  Separate 8949s must be filed for sales where the basis is reported by the broker, for sales where the tax basis isn't reported and for any disposition where no 1099-B is received reporting the gross proceeds.

No comments:

Post a Comment