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This article demonstrates how to add enter stock or crypto currency sales on Form 8949, |
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Reporting Stock/Digital Asset Sales
Taxpayers who sold a stock or their interest in a digital asset during the tax year must reconcile these sales on their tax return.
Taxpayers may receive a Form 1099-B, 1099-S, 1099-MISC, or a summary from their investment company detailing these transactions
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Reporting Stock/Digital Asset Sales
Select Add Form.
Begin by typing 8949, into the search bar at the bottom of the All Forms and Schedules Menu.
- Select Form 8949
Locate and select Form 8949/1099-B. Double-click to add the form.
Begin by entering a "T" or "S" in the taxpayer/spouse indicator. If it is a joint asset, leave this field blank.
Enter the transaction description code "A-F" (this is on the form the taxpayer provided).
Enter the description of property. This will be the name of the stock sold, such as “Walmart, Coca-cola, etc.”.
Enter the date acquired.
Enter the date sold.
Enter the sales price (this might be labeled proceeds).
Enter the cost basis.
Enter adjustment codes and amount as needed (these will be on the form).
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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. |
Need more help? Watch our quick video below...
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