Schedule D/Form 8949 Instructions

Feb 17, 2014 2 Replies
A

I have a question about the 2013 Schedule D/Form 8949 Instructions.



In 2013 I sold a number of securities that were in my account at Schwab. The 1099-B that I received from Schwab lists all these securities. The sales are grouped into categories such as " Long-term (Report on Form



8949, Part II, with Box A checked) " etc with proceeds and costs of each transaction listed along with the totals for each categoty

Must I list each transaction or can I merely mark "Schwab" with the totals and using "Various" for the dates.



I don't want to send in the 1099-B.



Thank you


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R

You're supposed to list each transaction. If it's a lot of transactions, see if you can download a file from your account which has all of the 1099-B, 1099-DIV, etc that you can import into your tax program. Go to the tax center and let us know if you can see such a thing. I'm sure that Charles Schwab has this feature.

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B

You can just report the totals on Schedule D line 1a (short-term) and line 8a (long-term) for any transactions for which all of the following conditions are true.

- Basis was reported to the IRS.

- There is no disallowed wash sale loss (1099-B box 5).

- You do not have to make any adjustments to the gain or loss or holding period.

For any transactions that do not meet all of those conditions, you have to report the details of each transaction to the IRS. That means either listing them all on Form 8949 or sending in the 1099-B or a statement containing all the information that would be on Form 8949.

Bob Sandler

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