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8949 Form


IRS Form 8949 is a tax form used to report investment short and long-term capital gains and losses. Investors will receive information about their tax lots, capital gains, and capital losses from the brokerage or exchange on form 1099-B. Individuals must fill out Form 8949 if they have any of the following to report: The sale or exchange of a capital asset, gains from involuntary conversions of capital assets other than assets used for business or trade purposes, deferred capital gains, or personal debts.

When filing a joint return, more than one copy of form 8949 may be needed to document the combined transactions of both parties. The totals from all form 8949’s must be reported on Schedule D.

Notice: River Financial does not provide investment, financial, tax, or legal advice. The information provided is general and illustrative in nature and therefore is not intended to provide, and should not be relied on for, tax advice. We encourage you to consult the appropriate tax professional to understand your personal tax circumstances.