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Taxpayers who sold a stock or their interest in a digital asset during the tax year must reconcile these sales on their tax return. |
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/wiki/spaces/CT/pages/1839432972, or a summary from their investment company detailing these transactions |
Follow the instructions below to correctly enter sales of stock or digital assets on Form 8949:
Select Add Form.
Begin by typing 8949, into the search bar at the bottom of the All Forms and Schedules Menu.
Select Form 8949. Double-click to add the form.
Begin by entering a "T" or "S" in the taxpayer/spouse indicator.
Enter the transaction description code "A-F".
Enter the description of property.
Enter the date acquired.
Enter the date sold.
Enter the sales price.
Enter the cost basis.
Enter adjustment codes as needed.
Repeat this process as needed. If a taxpayer has a large number of stock or digital assets, you may be able to utilize the multiple transaction exception and binary attach the brokerage statements to Form 8949.