フォーム 8949 インフォメーション
フォーム8949、販売および資本資産のその他の処分のための指示
2018年11月12日
関連フォーム
- フォーム 8949 - 資本資産の売買及びその他の処分
Department of the Treasury
Internal Revenue Service
2023
Instructions for Form 8949
Sales and Other Dispositions of Capital Assets
Section references are to the Internal Revenue Code unless
otherwise noted.
The sale or exchange of a capital asset not reported on
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another form or schedule.
Gains from involuntary conversions (other than from casualty
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Future Developments
or theft) of capital assets not used in your trade or business.
Nonbusiness bad debts.
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For the latest information about developments related to Form
8949 and its instructions, such as legislation enacted after they
Worthlessness of a security.
The election to defer capital gain invested in a qualified
opportunity fund (QOF).
The disposition of interests in QOFs.
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What’s New
If you are filing a joint return, complete as many copies of
New code P. Use code “P” to report gain or loss on the sale or
exchange by a nonresident alien individual, foreign trust, foreign
estate, or foreign corporation of an interest in a partnership that
is engaged in a U. S. trade or business. Code P will apply to Part
I and Part II, as applicable, of Form 8949.
Form 8949 as you need to report all of your and your spouse's
transactions. You and your spouse may list your transactions on
separate forms or you may combine them. However, you must
include on your Schedule D the totals from all Forms 8949 for
both you and your spouse.
Corporations and partnerships. Corporations and
General Instructions
partnerships use Form 8949 to report the following.
The sale or exchange of a capital asset not reported on
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File Form 8949 with the Schedule D for the return you are filing.
This includes Schedule D of Forms 1040, 1040-SR, 1041, 1065,
8865, 1120, 1120-S, 1120-C, 1120-F, 1120-FSC, 1120-H,
1120-IC-DISC, 1120-L, 1120-ND, 1120-PC, 1120-POL,
1120-REIT, 1120-RIC, and 1120-SF; and certain Forms 990-T.
another form or schedule.
Gain or loss on the sale or exchange by a foreign corporation
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of an interest in a partnership that is engaged in a U.S. trade or
business.
Sale of stock of a specified 10%-owned foreign corporation,
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adjusted for the dividends-received deduction under section
245A, but only if the sale would otherwise generate a loss.
Complete Form 8949 before you complete line 1b, 2, 3, 8b, 9, or
10 of Schedule D.
Nonbusiness bad debts.
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Undistributed long-term capital gains from Form 2439.
Worthlessness of a security.
Purpose of Form
Use Form 8949 to report sales and exchanges of capital assets.
Form 8949 allows you and the IRS to reconcile amounts that
were reported to you and the IRS on Forms 1099-B or 1099-S
(or substitute statements) with the amounts you report on your
return. If you receive Forms 1099-B or 1099-S (or substitute
statements), always report the proceeds (sales price) shown on
the form (or statement) in column (d) of Form 8949. If Form
1099-B (or substitute statement) shows that the cost or other
basis was reported to the IRS, always report the basis shown on
that form (or statement) in column (e). If any correction or
adjustment to these amounts is needed, make it in column (g).
details about these adjustments.
The election to defer capital gain invested in a QOF.
The disposition of interests in QOFs.
Corporations also use Form 8949 to report their share of gain
(or loss) from a partnership, estate, or trust.
For corporations and partnerships meeting certain criteria, an
exception to some of the normal requirements for completing
Form 8949 has been provided. See Special provision for certain
qualified entities under the instructions for line 1, later.
Estates and trusts. Estates and trusts (including non-grantor
trusts) use Form 8949 to report the following.
Gain or loss on the sale or exchange by a foreign trust or
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estate of an interest in a partnership that is engaged in a U.S.
trade or business.
If all Forms 1099-B (or all substitute statements) you received
show basis was reported to the IRS and no correction or
adjustment is needed, you may not need to file Form 8949. See
Exception 1 under the instructions for line 1, later.
The sale or exchange of a capital asset not reported on
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another form or schedule.
Nonbusiness bad debts.
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If you received a Schedule A to Form 8971 for property and
Part 2, column C, of the Schedule A indicates that the property
increased the estate tax liability, you will be required to report a
basis consistent with the final estate tax value of the property
reported in Part 2, column E, of the schedule. See Schedule A to
or Other Basis, later, for more information on consistent basis
reporting and the amount you will report on Form 8949.
Worthlessness of a security.
The election to defer capital gain invested in a QOF.
The disposition of interests in QOFs.
Schedule D. Use Schedule D for the following purposes.
To figure the overall gain (or loss) from transactions reported
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on Form 8949.
To report a gain from Form 6252 or Part I of Form 4797.
To report a gain (or loss) from Form 4684, 6781, or 8824.
To report capital gain distributions not reported directly on
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Individuals. Individuals use Form 8949 to report the following.
The sale or exchange of a capital asset reported on a Form
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Form 1040 or 1040-SR, line 7 (or effectively connected capital
gain distributions not reported directly on Form 1040-NR, line 7).
1099-K.
Gain or loss on the sale or exchange by a nonresident alien
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To report a capital loss carryover from the previous tax year to
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individual of an interest in a partnership that is engaged in a U.S.
trade or business.
the current tax year.
Jan 11, 2024
Cat. No. 59421Z
To report your share of a gain (or loss) from a partnership, S
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Short-Term or Long-Term
corporation, estate, or trust. (However, corporations report this
type of gain (or loss) on Form 8949.)
Separate your capital gains and losses according to how long
you held or owned the property.
To report certain transactions you don't have to report on Form
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8949, such as transactions reported to you on a Form 1099-B (or
substitute statement) showing basis was reported to the IRS and
for which you have no adjustments, as explained under
Exception 1, later.
The holding period for short-term capital gains and losses is
generally 1 year or less. Taxpayers that hold certain partnership
interests in connection with the performance of services may be
subject to different holding period rules. See the Schedule D
instructions for more information. Report these transactions on
Part I of Form 8949 (or line 1a of Schedule D if you can use
Exception 1 under the instructions for line 1, later).
Individuals, estates, and trusts also use Schedule D to report
undistributed long-term capital gains from Form 2439.
Additional information. See the instructions for the
Schedule D you are filing for detailed information about other
topics, including the following.
The holding period for long-term captal gains and losses is
generally more than 1 year. Taxpayers that hold certain
partnership interests in connection with the performance of
services may be subject to different holding period rules. See the
Schedule D instructions for more information. Report these
transactions on Part II of Form 8949 (or line 8a of Schedule D if
Other forms you may have to file.
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The definition of capital asset.
Certain digital assets, such as Bitcoin. Also, see the
Reporting capital gain distributions, undistributed capital
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gains, the sale of a main home, the sale of capital assets held for
personal use, or the sale of a partnership interest.
To figure the holding period, begin counting on the day after
you received the property and include the day you disposed of it.
Capital losses, nondeductible losses, and losses from wash
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Generally, if you disposed of property that you acquired by
inheritance, report the disposition as a long-term gain (or loss)
regardless of how long you held the property.
sales.
Traders in securities.
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Short sales.
Gain or loss from options.
A nonbusiness bad debt must be treated as a short-term
capital loss. See Pub. 550 for what qualifies as a nonbusiness
bad debt and how to enter it on Part I of Form 8949.
Installment sales.
Demutualization of life insurance companies.
Exclusion or rollover of gain from the sale of qualified small
Form 1099-B. If you received a Form 1099-B (or substitute
statement) for a transaction, box 2 may help you determine
whether your gain (or loss) is short term, long term, or subject to
special rules. If box 2 is blank and code X is in the "Applicable
checkbox on Form 8949" box near the top of Form 1099-B, your
broker doesn't know whether your gain (or loss) is short term or
long term. Use your own records to determine whether your gain
(or loss) is short term or long term.
business (QSB) stock.
Any other rollover of gain.
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Exclusion of gain from the sale or exchange of DC Zone
assets or qualified community assets.
Deferral of gain invested in a QOF.
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Certain other items that get special treatment.
Special reporting rules for corporations, partnerships, estates,
and trusts in certain situations.
For more information about reporting on Forms 6252, 4797,
4684, 6781, and 8824, see the instructions for those forms. See
Pub. 544 and Pub. 550 for more details.
Corporation's Gains and Losses From
Partnerships, Estates, or Trusts
Report a corporation's share of capital gains and losses from
investments in partnerships, estates, or trusts on the appropriate
part of Form 8949. Report a net short-term capital gain (or loss)
on Part I (with box C checked) and a net long-term capital gain
(or loss) on Part II (with box F checked). In column (a), enter
“From Schedule K-1 (Form 1065)” or “From Schedule K-1 (Form
1041),” whichever applies; enter the gain (or loss) in column (h);
and leave all other columns blank.
Basis and Recordkeeping
Basis is the amount of your investment in property for tax
purposes. The basis of property you buy is usually its cost. You
need to know your basis to figure any gain (or loss) on the sale
or other disposition of the property. You must keep accurate
records that show the basis and, if applicable, adjusted basis of
your property. Your records should show the purchase price,
including commissions; increases to basis, such as the cost of
improvements; and decreases to basis, such as depreciation,
nondividend distributions on stock, and stock splits.
If more than one Schedule K-1 is received, report each on a
separate row. Include additional identifying information, such as
“Partnership X.”
For more information on basis, see Column (e)—Cost or
Other Basis, later, and the following publications.
Section 1061 Reporting
Section 1061 recharacterizes certain long-term capital gains of a
partner that holds one or more applicable partnership interests
as short-term capital gains. An applicable partnership interest is
an interest in a partnership that is transferred to or held by a
taxpayer, directly or indirectly, in connection with the
Pub. 550, Investment Income and Expenses.
Pub. 551, Basis of Assets.
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If you lost or didn't keep records to determine your basis in
securities, contact your broker for help. If you receive a Form
1099-B (or substitute statement), your broker may have reported
your basis for these securities in box 1e.
performance of substantial services by the taxpayer or any other
related person, in an applicable trade or business. See Section
1061 Reporting Guidance FAQs for reporting of section 1061
recharacterization amounts on the Form 8949.
The IRS partners with companies that offer Form 8949
software that can import trades from many brokerage
firms and accounting software that can help you keep
track of your adjusted basis in securities. To find out more, go to
Digital Assets
A digital asset is a digital representation of value that is recorded
on a cryptographically secured distributed ledger or any similar
technology. A digital asset is treated as property, and general tax
principles that apply to property transactions apply to
transactions using digital assets, including how to figure your
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Instructions for Form 8949 (2023)
holding period for short-term and long-term capital gains and
assets include property that has been referred to as “convertible
virtual currency,” “cryptocurrency,” and “non-fungible tokens.” If a
particular asset has the characteristics of a digital asset, it will be
treated as a digital asset for federal income tax purposes. For
more information on the tax treatment of digital assets, see
Notice 2014-21 (as modified by Notice 2023-34), Rev. Rul.
For more information on the tax treatment of property
transactions and on short-term and long-term capital gains and
losses, see Pub. 544.
If you are attaching multiple Forms 8949 to your return, attach
the Form(s) 8949 that lists code "Z" in column (f) first.
If you received a Form 1099-B for a transaction, the
“Applicable checkbox on Form 8949” box near the top of that
form may help you determine which box to check on the Part I
where you report that transaction. A substitute statement you get
instead of Form 1099-B may also tell you which box to check.
Box A. Report on a Part I with box A checked all short-term
transactions reported to you on Form 1099-B (or substitute
statement) with an amount shown for cost or other basis unless
the statement indicates that amount wasn't reported to the IRS. If
your statement shows cost or other basis but indicates it wasn't
reported to the IRS (for example, if box 12 of Form 1099-B isn't
Rounding Off to Whole Dollars
You can round off cents to whole dollars on Form 8949. If you do
round to whole dollars, round all amounts. To round, drop cent
amounts under 50 cents and increase cent amounts over 49
cents to the next dollar. For example, $1.49 becomes $1 and
$1.50 becomes $2.
If you don't need to make any adjustments to the basis
or type of gain (or loss) reported to you on Form 1099-B
(or substitute statement) or to your gain (or loss) for any
TIP
transactions for which basis has been reported to the IRS
(normally reported on Form 8949 with box A checked), you don't
have to include those transactions on Form 8949. Instead, you
can report summary information for those transactions directly
Specific Instructions
Report short-term gains and losses on Part I. Report long-term
gains and losses on Part II.
Box B. Report on a Part I with box B checked all short-term
transactions reported to you on Form 1099-B (or substitute
statement) without an amount shown for cost or other basis or
showing that cost or other basis wasn't reported to the IRS. If
your statement shows cost or other basis for the transaction was
reported to the IRS (for example, if box 12 of Form 1099-B is
Box C. Report on a Part I with box C checked all short-term
transactions for which you can't check box A or B because you
didn't receive a Form 1099-B (or substitute statement).
Line 1
Enter all sales and exchanges of capital assets, including stocks,
bonds, and real estate (if not reported on line 1a or 8a of
Schedule D or on Form 4684, 4797, 6252, 6781, or 8824).
Include these transactions even if you didn't receive a Form
1099-B or 1099-S (or substitute statement) for the transaction.
However, if the property you sold was your main home, see Sale
of Your Home in the Instructions for Schedule D (Form 1040).
Part II. Use a separate Part II for each type of long-term
transaction described in the text for one of the boxes (D, E, or F)
at the top of Part II. Include on each Part II only transactions
described in the text for the box you check (D, E, or F). Check
only one box on each Part II. For example, if you check box D,
include on that Part II only long-term transactions reported to you
on a statement showing basis was reported to the IRS. Complete
as many copies of Part II as you need to report all transactions of
each type (D, E, or F).
Enter all losses from the disposition of a portion of a MACRS
asset not used in a trade or business but held for investment or
for use in a not-for-profit activity. If you have a gain from the
partial disposition of a MACRS asset, see Disposition of
Depreciable Property Not Used in Trade or Business in the Form
4797 instructions.
If you received a Form 1099-K reporting proceeds from the
sale of personal property that resulted in gain, that transaction is
taxable and must be entered on Form 8949. Loss on the sale of
personal property is not deductible, and generally should not be
reported on Form 8949. However, if you receive a Form 1099-K
reporting proceeds from the sale of personal property that
resulted in a loss, you should report the loss with an offsetting
entry. You can do this either on Form 1040, Schedule 1, Part 1,
or on Form 8949, by entering an adjustment when reporting the
proceeds and basis of the property, as follows. Enter “L” in
column (f) as the code explaining the loss is nondeductible.
Then enter the amount of the nondeductible loss as a positive
number in column (g). Enter the proceeds in column (d), enter
the cost basis in column (e), enter “L” in column (f), and enter in
column (g) the amount of the adjustment that will result in $0 as
the gain or loss in column (h).
If you are attaching multiple Forms 8949 to your return, attach
the Form(s) 8949 that lists code "Z" for investments in a QOF in
column (f) first.
If you received a Form 1099-B for a transaction, the
“Applicable checkbox on Form 8949” box near the top of that
form may help you determine which box to check on the Part II
where you report that transaction. A substitute statement you get
instead of Form 1099-B may also tell you which box to check.
Box D. Report on a Part II with box D checked all long-term
transactions reported to you on Form 1099-B (or substitute
statement) with an amount shown for cost or other basis unless
the statement indicates that amount wasn't reported to the IRS. If
your statement shows cost or other basis but indicates it wasn't
reported to the IRS (for example, if box 12 of Form 1099-B isn't
Enter the details of each transaction on a separate row
(unless one of the Exceptions to reporting each transaction on a
separate row, described later, applies to you).
If you don't need to make any adjustments to the basis
or type of gain (or loss) reported to you on Form 1099-B
(or substitute statement) or to your gain (or loss) for any
TIP
Part I. Use a separate Part I for each type of short-term
transaction described in the text for one of the boxes (A, B, or C)
at the top of Part I. Include on each Part I only transactions
described in the text for the box you check (A, B, or C). Check
only one box on each Part I. For example, if you check box A,
include on that Part I only short-term transactions reported to you
on a statement showing basis was reported to the IRS. Complete
as many copies of Part I as you need to report all transactions of
each type (A, B, or C).
transactions for which basis has been reported to the IRS
(normally reported on Form 8949 with box D checked), you don't
have to include those transactions on Form 8949. Instead, you
can report summary information for those transactions directly
Box E. Report on a Part II with box E checked all long-term
transactions reported to you on Form 1099-B (or substitute
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Instructions for Form 8949 (2023)
statement) without an amount shown for cost or other basis or
showing that cost or other basis wasn't reported to the IRS. If
your statement shows cost or other basis for the transaction was
reported to the IRS (for example, if box 12 of Form 1099-B is
Don't enter “Available upon request” and summary totals in
lieu of reporting the details of each transaction on Part I or II or
attached statements.
Exception 2 is not available for the election to defer
eligible gain by investing in a QOF. Taxpayers who elect
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Box F. Report on a Part II with box F checked all long-term
transactions for which you can't check box D or E because you
didn't receive a Form 1099-B (or substitute statement).
CAUTION
to defer eligible gain must report the details of each
investment in a QOF on Form 8949 in the manner described
Invested in a QOF, later.
You don't need to complete and file an entire copy of Form
8949 (Parts I and II) if you can check a single box to describe all
your transactions. In that case, complete and file either Part I or II
and check the box that describes the transactions. Otherwise,
complete a separate Part I or II for each category of your
transactions, as described above.
Special provision for certain corporations, partnerships,
securities dealers, and other qualified entities. This special
provision applies to certain corporations, partnerships, securities
dealers, and nonprofit organizations. Individual taxpayers aren't
eligible except in rare circumstances.
You may enter summary totals instead of reporting the details
of each transaction on a separate row of Part I or II or on
attached statements if:
1. You file Form 1120-S or 1065, or are a taxpayer exempt
from receiving Form 1099-B, such as a corporation or exempt
organization, under Regulations section 1.6045-1(c)(3)(i)(B);
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Include on your Schedule D the totals from all your Parts I and
II. Form 8949 and Schedule D explain how to do this.
Exceptions to reporting each transaction on a separate
row. There are exceptions to the rule that you must report each
of your transactions on a separate row of Part I or II. Any
below. Taxpayers who file Form 1120-S or Form 1065 and other
qualified entities should see Special provision for certain
qualified entities, later.
Exception 1. Form 8949 isn't required for certain
transactions. You may be able to aggregate those transactions
and report them directly on either line 1a (for short-term
transactions) or line 8a (for long-term transactions) of
Schedule D. This option applies only to transactions (other than
sales of collectibles) for which:
2. You must report more than five transactions for that part.
If this provision applies to you, enter the summary totals on
line 1. For short-term transactions, check box C at the top of Part
I even if the summary totals include transactions described in the
text for box A or B. For long-term transactions, check box F at the
top of Part II even if the summary totals include transactions
described in the text for box D or E. Enter “Available upon
request” in column (a). Leave columns (b) and (c) blank. Enter
“M” in column (f). If other codes also apply, enter all of them in
column (f). Enter the totals that apply in columns (d), (e), (g), and
(h).
You received a Form 1099-B (or substitute statement) that
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shows basis was reported to the IRS and doesn't show any
adjustments in box 1f or 1g;
The Ordinary box in box 2 isn’t checked;
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Don't use a separate row for the totals from each broker.
Instead, enter the summary totals from all brokers on a single
row of Part I (with box C checked) or Part II (with box F checked).
You don't need to make any adjustments to the basis or type
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of gain (or loss) reported on Form 1099-B (or substitute
statement), or to your gain (or loss); and
You aren’t electing to defer income due to an investment in a
This special provision is not available for the election to
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QOF and aren’t terminating deferral from an investment in a
QOF.
defer eligible gain by investing in a QOF. Taxpayers who
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CAUTION
elect to defer eligible gain must report the details of each
investment in a QOF on Form 8949 in the manner described
Invested in a QOF, later.
If you choose to report these transactions directly on
Schedule D, you don't need to include them on Form 8949 and
don't need to attach a statement. For more information, see the
Schedule D instructions.
Exception 2, you can use both. Report the transactions that
Schedule D, whichever applies. Report the rest of your
Exception 2. Instead of reporting each of your transactions
on a separate row of Part I or II, you can report them on an
attached statement containing all the same information as Parts I
and II and in a similar format (that is, description of property,
dates of acquisition and disposition, proceeds, basis, adjustment
and code(s), and gain (or loss)). Use as many attached
statements as you need. Enter the combined totals from all your
attached statements on Parts I and II with the appropriate box
checked.
E-file. If you e-file your return but choose not to report each
transaction on a separate row on the electronic return, you must
attach Form 8949 to Form 8453 (or the appropriate form in the
Form 8453 series) and mail the forms to the IRS. (However, you
can't attach a paper Form 8949 to Form 8453-FE.) You can
attach one or more statements containing all the same
information as Form 8949, instead of attaching Form 8949, if the
statements are in a format similar to Form 8949.
However, this doesn't apply to transactions that qualify for
earlier. In those cases, an attachment, a statement, or Form
8453 isn’t required.
Charitable gift annuity. If you are the beneficiary of a
charitable gift annuity and receive a Form 1099-R showing an
amount in box 3, report the box 3 amount on a Part II with box F
checked. Enter “Form 1099-R” in column (a). Enter the box 3
amount in column (d). Also, complete column (h).
For example, report on Part I with box B checked all
short-term gains and losses from transactions your broker
reported to you on a statement showing basis wasn't reported to
the IRS. Enter the name of the broker followed by the words “see
attached statement” in column (a). Leave columns (b) and (c)
blank. Enter “M” in column (f). If other codes also apply, enter all
of them in column (f). Enter the totals that apply in columns (d),
(e), (g), and (h). If you have statements from more than one
broker, report the totals from each broker on a separate row.
Form 2438. Enter any net short-term capital gain from line 4 of
Form 2438 on a Part I with box C checked. Enter “Net short-term
capital gain from Form 2438, line 4” in column (a), enter the gain
in column (h), and leave all other columns blank.
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Instructions for Form 8949 (2023)
Enter any amount from line 12 of Form 2438 on a Part II with
box F checked. Enter “Undistributed capital gains not designated
(from Form 2438)” in column (a), enter the amount of the gain in
column (h), and leave all other columns blank.
how long you held the stock). Enter the taxable part of the
distribution in columns (d) and (h). Each payer of a nondividend
distribution should send you a Form 1099-DIV showing the
amount of the distribution in box 3.
Form 2439. Corporations and partnerships report undistributed
long-term capital gains from Form 2439 on a Part II with box F
checked. Enter “From Form 2439” in column (a), enter the gain in
column (h), and leave all other columns blank. Individuals report
undistributed long-term capital gains from Form 2439 on line 11
of Schedule D (Form 1040). Estates and trusts report those
amounts on line 11 of Schedule D (Form 1041).
Dispositions of depreciable property not used in a trade or
business. Report on Form 8949 a loss from the sale or
exchange of depreciable property not used in a trade or
business but held for investment or for use in a not-for-profit
activity. If you have a gain from the sale of such property, see
Disposition of Depreciable Property Not Used in Trade or
Business in the Form 4797 instructions.
Schedule P (Form 1040-NR). A nonresident alien individual,
foreign trust, or foreign estate that sells or exchanges an interest
in a partnership engaged in a U.S. trade or business reports
recognized effectively connected capital gain (or loss) on a Part
I, if short term capital gain (or loss) and Part II, if long term capital
gain (or loss), checking box (C) on Part I or box (F) on Part II, as
applicable. Enter “From Schedule P (Form 1040-NR)” in column
(a), enter the code “P” in column (f), and enter the gain (or loss)
in column (h) with all other columns filled in.
Other gains (or losses) where sales price or basis isn't
known. If you have another gain (or loss) for which you don't
know the sales price or basis (such as a long-term capital gain
from Form 8621), enter a description of the gain (or loss) in
column (a) on a Part I with box C checked or Part II with box F
checked (depending on how long you held the property). If you
have a gain, enter it in columns (d) and (h). If you have a loss,
enter it in columns (e) and (h). Complete any other columns you
can.
Schedule P (Form 1120-F). A foreign corporation that sells or
exchanges an interest in a partnership engaged in a U.S. trade
or business reports recognized effectively connected capital gain
(or loss) on a Part I, if short term capital gain (or loss) and Part II,
if long term capital gain (or loss), checking box (C) on Part I or
box (F) on Part II, as applicable. Enter “From Schedule P (Form
1120-F)” in column (a), enter the code “P” in column (f), and
enter the gain (or loss) in column (h) with all other columns filled
in.
Column (a)—Description of Property
For stock, include the number of shares. You can use stock ticker
symbols or abbreviations to describe the property as long as
they are based on the descriptions of the property as shown on
Form 1099-B or 1099-S (or substitute statement).
For a digital asset, include the full name or an abbreviated
symbol of the digital asset and the exact units sold or disposed
of in the transaction, and include the sale transaction ID number,
if available.
Contingent payment debt instruments. If you sell a taxable
contingent payment debt instrument subject to the
Column (b)—Date Acquired
noncontingent bond method at a gain, your gain is ordinary
income (interest income), even if you hold the debt instrument as
a capital asset. If you sell a taxable contingent payment debt
instrument subject to the noncontingent bond method at a loss,
your loss is an ordinary loss to the extent of your prior original
issue discount (OID) inclusions on the debt instrument. If the
debt instrument is a capital asset, treat any loss that is more than
your prior OID inclusions as a capital loss. See Regulations
section 1.1275-4(b) for exceptions to these rules.
Enter in this column the date you acquired the property. Enter the
trade date for stocks and bonds you purchased on an exchange
or over-the-counter market. For a short sale, enter the date you
acquired the property delivered to the broker or lender to close
the short sale. For property you previously elected to treat as
having been sold and reacquired on January 1, 2001 (or January
2, 2001, for readily tradable stock), enter the date of the deemed
sale and reacquisition.
If you received a Form 1099-B (or substitute statement)
reporting the sale of a taxable contingent payment debt
instrument subject to the noncontingent bond method and the
Ordinary box in box 2 is checked, an adjustment may be
required. See the Worksheet for Contingent Payment Debt
Instrument Adjustment in Column (g), later, to figure the
adjustment to enter in column (g).
If you received a Form 1099-B (or substitute statement),
box 1b may help you determine when you acquired the property.
Inherited property. Generally, if you disposed of property that
you acquired by inheritance, report the sale or exchange on a
Part II with the appropriate box checked (D, E, or F). Enter
“INHERITED” in column (b).
See Pub. 550 or Pub. 1212 for more details on any special
Stock acquired on various dates. If you sold a block of stock
(or similar property) that you acquired through several different
purchases, you may report the sale on one row and enter
“VARIOUS” in column (b). However, you must still report the
short-term gain (or loss) on the sale on Part I and the long-term
gain (or loss) on Part II.
rules or adjustments that might apply.
Net asset value (NAV) method for money market funds. If
you have a capital gain (or loss) determined under the NAV
method with respect to shares in a money market fund, enter the
name of the fund followed by “(NAV)” in column (a) on a Part I
with box C checked. Enter the net gain (or loss) in column (h).
Leave all other columns blank. No long-term capital gain (or
loss) can be entered under the NAV method.
Column (c)—Date Sold or Disposed Of
Enter in this column the date you sold or disposed of the
property. Use the trade date for stocks and bonds traded on an
exchange or over-the-counter market. For a short sale, enter the
date you delivered the property to the broker or lender to close
the short sale.
Nondividend distributions. Distributions from a corporation
with respect to its stock that are a return of your cost (or other
basis) aren’t taxed until you recover your cost (or other basis),
determined on a share-by-share basis. Reduce your cost (or
other basis) in a share by the distributions allocable to such
share. After you have recovered your entire cost (or other basis)
in a share, any later nondividend distribution allocable to that
share is taxable as a capital gain. Enter the name of the payer of
any taxable nondividend distributions in column (a) on a Part I
with box C checked or Part II with box F checked (depending on
If you received a Form 1099-B (or substitute statement),
box 1c may help you determine when you sold or disposed of the
property.
Column (d)—Proceeds (Sales Price)
Follow the instructions below that apply to your transaction(s).
5
Instructions for Form 8949 (2023)
E, of the Schedule A to figure your basis in the property and Part
2, column C, of the Schedule A indicates that the property
increased the estate tax liability of the decedent, you may be
subject to a penalty equal to 20% of any resulting underpayment
of tax because the basis reported isn’t consistent with the final
estate tax value of the property.
You didn't receive a Form 1099-B or 1099-S (or substitute
statement). If you didn't receive a Form 1099-B or 1099-S (or
substitute statement) for a transaction, enter in column (d) the
net proceeds. The net proceeds equal the gross proceeds minus
any selling expenses (such as broker’s fees, commissions, and
state and local transfer taxes). If you sold a call option and it was
exercised, you adjust the sales price of the property sold under
the option for any option premiums (as instructed under Gain or
Loss From Options in the Instructions for Schedule D (Form
1040)).
For more details, see Pub. 551; Pub. 550; or the instructions
Adjustments to basis. Before you can figure any gain (or loss)
on a sale, exchange, or other disposition of property, you must
usually make certain adjustments (increases and decreases) to
the basis of the property. Increase the basis of your property by
capital improvements. Decrease it by depreciation, amortization,
and depletion. Other adjustments may be necessary for your
property. See Pub. 551 for more information.
If you sold shares of stock, adjust your basis in each share,
but not below zero, by subtracting all the nondividend
distributions allocable to such shares that were received before
the sale and that reduced your cost (or other basis) in such
shares. Also, adjust your basis for any stock splits. See Pub. 550
Columns (f) and (g), later, for the adjustment you must make if
you received a Form 1099-B (or substitute statement) and the
basis shown in box 1e is incorrect.
You received a Form 1099-B or 1099-S (or substitute state-
ment). If you received a Form 1099-B or 1099-S (or substitute
statement) for a transaction, enter in column (d) the proceeds
shown on the form or statement you received. If there are any
selling expenses or option premiums that aren't reflected on the
form or statement you received (by an adjustment to either the
proceeds or basis shown), enter “E” in column (f) and the
necessary adjustment in column (g). See the example under
Column (g)—Amount of Adjustment, later.
If the proceeds you received were more than shown on Form
1099-B or 1099-S (or substitute statement), enter the correct
proceeds in column (d). This might happen if, for example, box 4
on Form 1099-S is checked.
You shouldn't have received a Form 1099-B (or substitute
statement) for a transaction merely representing the return of
your original investment in a nontransferable obligation, such as
a savings bond or a certificate of deposit. But if you did, report
the proceeds shown on Form 1099-B (or substitute statement) in
both columns (d) and (e).
Increase the cost or other basis of a taxable OID debt
instrument by the amount of OID that you have included in gross
income for that instrument. See Pub. 550 for details.
Increase the cost or other basis of a tax-exempt OID debt
instrument by the amount of tax-exempt OID that accrued on the
debt instrument while held by you. See Pub. 550 for details.
Column (e)—Cost or Other Basis
The basis of property you buy is usually its cost, including the
purchase price and any costs of purchase, such as
commissions. You may not be able to use the actual cost as the
basis if you inherited the property, got it as a gift, or received it in
a tax-free exchange or involuntary conversion or in connection
with a “wash sale.” If you don't use the actual cost, attach an
explanation of your basis.
The basis of property acquired by gift is generally the basis of
the property in the hands of the donor. The basis of inherited
property is generally the fair market value at the date of death.
See Pub. 551 for details.
If you elected to recognize gain on property held on January
1, 2001, your basis in the property is its closing market price or
fair market value, whichever applies, on the date of the deemed
sale and reacquisition, whether the deemed sale resulted in a
gain or an unallowed loss.
If you elect to currently include in income the market discount
on a bond, increase the basis of the bond by the market discount
that has been included in income for that bond. See Pub. 550 for
details.
If you elect to amortize bond premium on a taxable bond,
reduce the basis of the bond by any bond premium amortization
allowed as either an offset to interest income or as a deduction
for that bond. Reduce the basis of a tax-exempt bond by any
bond premium amortization for that bond. See Pub. 550 for
details.
If a charitable contribution deduction is allowable because of
a bargain sale of property to a charitable organization, you must
allocate your basis in the property between the part sold and the
part contributed based on the fair market value of each. See
Pub. 544 for details.
For compensatory options granted after 2013, the basis
information reported to you on Form 1099-B (or substitute
statement) won’t reflect any amount you included in income
upon grant or exercise of the option. Increase your basis by any
amount you included in income upon grant or exercise of the
option. For compensatory options granted before 2014, any
basis information reported to you on Form 1099-B (or substitute
statement) may or may not reflect any amount you included in
income upon grant or exercise of the option; therefore, the basis
may need to be adjusted. If the basis information reported to you
on Form 1099-B (or substitute statement) doesn’t reflect an
amount you included in income upon grant or exercise of the
option, increase your basis by the amount you included in
income upon grant or exercise of the option. See Pub. 525 for
more information.
Schedule A to Form 8971—Consistent basis reporting. If
you received a Schedule A to Form 8971 from an executor of an
estate or other person required to file an estate tax return and
you are a beneficiary who receives (or is to receive) property
from that estate, you will be required to report a basis consistent
with the final estate tax value of the property if Part 2, column C,
of the Schedule A you received indicates that the property
increased the estate tax liability of the decedent. In this case,
first use an amount that is equal to or less than the final estate
tax value listed in Part 2, column E, of the Schedule A. This
amount is your initial basis in the property. You then adjust your
basis, later. The resulting amount is entered in column (e) of
Form 8949.
If you received a supplemental Schedule A to Form
Solely for purposes of calculating a loss on the sale of the
stock of a specified 10%-owned foreign corporation, if a
corporate shareholder received an actual or constructive
dividend after December 31, 2017, and that dividend qualified
for the 100% dividends-received deduction, the shareholder
8971, use the most recently dated supplemental
Schedule A to determine your initial basis.
TIP
Penalties for inconsistent basis reporting. If you use an
initial basis that is more than the amount listed in Part 2, column
6
Instructions for Form 8949 (2023)
must reduce its basis in the controlled foreign corporation stock
in the amount of the dividend received, but not below zero.
shown on Form 1099-B (or substitute statement) isn’t correct,
the adjustment you must make.
Average basis. You can use the average basis method to
determine the basis of shares of stock if the shares are identical
to each other, you acquired them at different prices and left them
in an account with a custodian or agent, and either:
If box 5 of Form 1099-B (or substitute statement) is checked,
the property sold wasn't a covered security.
For noncovered securities, enter the correct basis of the
property in column (e) if:
They are shares in a mutual fund (or other regulated
•
investment company);
No basis is shown on Form 1099-B (or substitute statement),
•
They are shares you hold in connection with a dividend
•
or
•
reinvestment plan (DRP), and all the shares you hold in
connection with the DRP are treated as covered securities
(defined below); or
The basis shown wasn't reported to the IRS.
Complete Form 8949, Columns (f) and (g), later, for further
information about how to report the correct basis.
You acquired them after 2011 in connection with a DRP.
•
Shares are identical if they have the same CUSIP number,
except that shares of stock in a DRP aren't identical to shares of
stock that aren't in a DRP, even if they have the same CUSIP
number. (CUSIP numbers are security identification numbers.)
Column (f)—Code
In order to explain any adjustment to gain (or loss) in column (g),
Complete Form 8949, Columns (f) and (g), later. If more than
one code applies, enter all the codes that apply in alphabetical
order (for example, “BOQ”). Don't separate the codes by a space
or comma.
If you are using the average basis method and received a
Form 1099-B (or substitute statement) that shows an incorrect
basis, enter “B” in column (f), enter the basis shown on Form
Complete Form 8949, Columns (f) and (g), later. For details on
making the election and figuring average basis, see section
1012, Pub. 550, and Regulations section 1.1012-1(e).
Column (g)—Amount of Adjustment
Enter in this column any necessary adjustments to gain (or loss).
Enter negative amounts in parentheses. Also, enter a code in
Form 8949, Columns (f) and (g), later.
Form 1099-B. If the property you sold was a covered security,
its basis should be shown in box 1e of the Form 1099-B (or
substitute statement) you received from your broker. Generally, a
covered security is any of the following.
More than one code. If you entered more than one code in
column (f) on the same row, enter the net adjustment in column
(g). For example, if one adjustment is $5,000 and another is
($1,000), enter $4,000 ($5,000 − $1,000).
Stock you acquired after 2010 (generally after 2011, if in a
•
mutual fund or other regulated investment company, or acquired
through a DRP).
Certain stock held in a mutual fund or in connection with a
•
DRP for which a single-account election is in effect.
Example. You sold your main home in 2023 for $320,000
and received a Form 1099-S showing the $320,000 gross
proceeds. The home's basis was $100,000. You had selling
expenses of $20,000 that weren’t included on your Form 1099-S.
Under the tests described in Sale of Your Home in the
Instructions for Schedule D (Form 1040), you can exclude the
entire $200,000 gain from income. On Form 8949, Part II, check
box F at the top. Complete columns (a), (b), and (c). Enter
$320,000 in column (d) and $100,000 in column (e). Enter “EH”
in column (f). In column (g), enter $220,000 ($20,000 selling
expenses + $200,000 exclusion) as a negative number. Put it in
parentheses to show it is negative. In column (h), enter -0-
($320,000 − $100,000 − $220,000). If this is your only
transaction on this Part II, enter $320,000 in column (d) on
line 10 of Schedule D (Form 1040), $100,000 in column (e),
($220,000) in column (g), and -0- in column (h).
Certain debt instruments you acquired after 2013.
•
•
Certain options, warrants, and stock rights you granted or
acquired after 2013.
A securities future contract you entered into after 2013.
Variable rate debt instruments acquired after 2015.
Inflation-indexed debt instruments acquired after 2015.
Contingent payment debt instruments acquired after 2015.
Convertible debt instruments acquired after 2015.
•
•
•
•
•
•
Options on debt instruments with payments denominated in
(or determined by reference to) a currency other than the U.S.
dollar and granted or acquired after 2015.
Options issued as part of investment units and granted or
•
acquired after 2015.
For more information on covered securities, see section
6045(g) and Regulations section 1.6045-1.
For covered securities, enter the basis shown on Form
1099-B (or substitute statement) in column (e). If the basis
7
Instructions for Form 8949 (2023)
How To Complete Form 8949, Columns (f) and (g)
For most transactions, you don't need to complete columns (f) and (g) and can leave them blank. You may need to complete columns
(f) and (g) if you got a Form 1099-B or 1099-S (or substitute statement) that is incorrect, if you are excluding or postponing a capital
gain, if you have a disallowed loss, or in certain other situations. Details are in the table below. If you enter more than one code in
THEN enter this code
IF . . .
AND. . .
in column (f) . . .
You received a Form 1099-B (or substitute
statement) and the basis shown in box 1e is
incorrect
If this transaction is reported on a Part I with box B
•
checked at the top or if this transaction is reported on a Part
II with box E checked at the top, enter the correct basis in
column (e), and enter -0- in column (g).
If this transaction is reported on a Part I with box A
•
checked at the top or if this transaction is reported on a Part
II with box D checked at the top, enter the basis shown on
Form 1099-B (or substitute statement) in column (e), even
though that basis is incorrect. Correct the error by entering
an adjustment in column (g). To figure the adjustment
needed, see the Worksheet for Basis Adjustments in
incorrect basis in the instructions for column (h), later.
B
You received a Form 1099-B (or substitute
statement) and the type of gain (or loss)
shown in box 2 is incorrect
Report the transaction on the correct part of Form 8949,
and enter -0- in column (g) on that part of the form if there
are no adjustments needed for the transaction.
TIP
If you received a Form 1099-B
(or substitute statement) with the Ordinary
box in box 2 checked and the security is a
taxable contingent payment debt instrument
subject to the noncontingent bond method,
enter code “O” for the transaction in column
(f) of the appropriate part of Form 8949 and
complete the Worksheet for Contingent
Column (g), later, to figure the amount to
enter in column (g).
T
You received a Form 1099-B or 1099-S (or
substitute statement) as a nominee for the
actual owner of the property
Report the transaction on Form 8949 as you would if you
were the actual owner, but also enter any resulting gain as
a negative adjustment (in parentheses) in column (g) or any
resulting loss as a positive adjustment in column (g). As a
result of this adjustment, the amount in column (h) should
be zero. However, if you received capital gain distributions
as a nominee, report them instead, as described under
Capital Gain Distributions in the Instructions for Schedule D
(Form 1040).
N
H
You sold or exchanged your main home at a
gain, must report the sale or exchange on
Part II of Form 8949 (as explained in Sale of
Your Home in the Instructions for
Schedule D (Form 1040)), and can exclude
some or all of the gain
Report the sale or exchange on Form 8949 as you would if
you weren't taking the exclusion. Then enter the amount of
excluded (nontaxable) gain as a negative number (in
parentheses) in column (g). See the example in the
instructions for column (g).
8
Instructions for Form 8949 (2023)
THEN enter this code
in column (f) . . .
IF . . .
AND. . .
You received a Form 1099-B (or substitute
statement) showing accrued market
discount in box 1f
Adjustment in Column (g), later, to figure the amount to
enter in column (g). However:
If you received a partial payment of principal on a bond,
•
don't use the worksheet. Instead, enter the smaller of the
accrued market discount or your proceeds in column (g).
Also, report it as interest on your tax return.
D
If you chose to include market discount in income
•
currently, enter -0- in column (g). Before figuring your gain
(or loss), increase your basis in the bond by the market
discount you have included in income for all years. See the
instructions for code B above.
If the disposition of a market discount bond results in a loss
subject to the wash sale rules, enter “W” in column (f) and
follow the instructions for code W below.
You sold or exchanged QSB stock and can
exclude part of the gain
Report the sale or exchange on Form 8949 as you would if
you weren't taking the exclusion and enter the amount of
the exclusion as a negative number (in parentheses) in
column (g). However, if the transaction is reported as an
installment sale, see Gain from an installment sale of QSB
stock in the Instructions for Schedule D (Form 1040).
Q
You can exclude all or part of your gain
under the rules explained in the Schedule D
instructions for DC Zone assets or qualified
community assets
Report the sale or exchange on Form 8949 as you would if
you weren't taking the exclusion. Then enter the amount of
the exclusion as a negative number (in parentheses) in
column (g).
X
R
You are electing to postpone all or part of
your gain under the rules explained in the
Schedule D instructions for any rollover of
gain (for example, rollover of gain from QSB
stock)
Report the sale or exchange on Form 8949 as you would if
you weren't making the election. Then enter the amount of
postponed gain as a negative number (in parentheses) in
column (g).
You have a nondeductible loss from a wash
sale
Report the sale or exchange on Form 8949 and enter the
amount of the nondeductible loss as a positive number in
column (g). See the Schedule D instructions for more
information about wash sales generally and Pub. 550 for
more information on wash sales involving substantially
similar stock or securities. If you received a Form 1099-B
(or substitute statement) and the amount of nondeductible
wash sale loss shown in box 1g is incorrect, enter the
correct amount of the nondeductible loss as a positive
number in column (g). If the amount of the nondeductible
loss is less than the amount shown on Form 1099-B (or
substitute statement), attach a statement explaining the
difference. If no part of the loss is a nondeductible loss from
a wash sale transaction, enter -0- in column (g).
W
You have a nondeductible loss other than a
loss indicated by code W
Report the sale or exchange on Form 8949 and enter the
amount of the nondeductible loss as a positive number in
column (g). See Nondeductible Losses in the Instructions
for Schedule D (Form 1040).
L
9
Instructions for Form 8949 (2023)
THEN enter this code
in column (f) . . .
IF . . .
AND. . .
You received a Form 1099-B or 1099-S (or
substitute statement) for a transaction and
there are selling expenses or option
premiums that aren't reflected on the form
or statement by an adjustment to either the
proceeds or basis shown
Enter in column (d) the proceeds shown on the form or
statement you received. Enter in column (e) any cost or
other basis shown on Form 1099-B or 1099-S (or substitute
statement). In column (g), enter as a negative number (in
parentheses) any selling expenses and option premium
that you paid (and that aren't reflected on the form or
statement you received) and enter as a positive number
any option premium that you received (and that isn't
reflected on the form or statement you received). For more
information about option premiums, see Gain or Loss From
Options in the Instructions for Schedule D (Form 1040).
E
You had a loss from the sale, exchange, or
worthlessness of small business (section
1244) stock and the total loss is more than
the maximum amount that can be treated as
an ordinary loss
See Small Business (Section 1244) Stock in the
Schedule D (Form 1040) instructions.
S
C
You disposed of collectibles (see the
Schedule D instructions)
Enter -0- in column (g). Report the disposition on Form
8949 as you would report any sale or exchange.
You report multiple transactions on a single
reporting each transaction on a separate
row, earlier
transaction on a separate row, earlier. Enter -0- in column
(g) unless an adjustment is required because of another
code.
M
You are electing to postpone all or part of
your gain under the rules explained in the
Schedule D instructions for investments in
QOFs
Gain Invested in a QOF, later.
Z
Y
You are reporting your gain from a QOF
investment that you deferred in a prior tax
year
Investment, later.
You are a nonresident alien individual,
foreign trust, foreign estate, or foreign
corporation who sold or exchanged an
interest in a partnership engaged in a U.S.
trade or business
Report on Form 8949 the gain or loss on the sale or
exchange by a nonresident alien individual, foreign trust,
foreign estate, or foreign corporation of an interest in a
partnership that is engaged in a U.S. trade or business.
Enter in column (g) any adjustment resulting from the
application of Regulations section 1.864(c)(8)-1(b) and (c).
If you are required to file Schedule P (Form 1040-NR), see
the instructions for lines 9 and 17. If you are required to file
Schedule P (Form 1120-F), see the instructions for line 9.
P
You have an adjustment not explained
earlier in this column
Enter the appropriate adjustment amount in column (g).
See the instructions for column (g).
O
None of the other statements in this column Leave columns (f) and (g) blank.
apply because you have no adjustments
Example 3—Adjustment. Column (d) is $6,000, column (e)
Column (h)—Gain (or Loss)
is $2,000, and column (g) is ($1,000). Enter $3,000 in column
(h).
Figure gain (or loss) on each row. First, subtract the cost or other
basis in column (e) from the proceeds (sales price) in column
(d). Then take into account any adjustments in column (g). Enter
the gain (or loss) in column (h). Enter negative amounts in
parentheses.
Example 4—Adjustment for incorrect basis. You sold
stock for $1,000. You had owned the stock for 3 months. Your
correct basis for the stock is $100, but you receive a Form
1099-B that shows your basis is $900 and shows your broker
reported that basis to the IRS. Enter $900 on line 1 of the
Worksheet for Basis Adjustments in Column (g), later. Enter
$100 on line 2 of the worksheet. Because line 1 is larger than
line 2, leave line 3 blank and enter $800 ($900 − $100) as a
positive number on line 4. Also, enter $800 in column (g) of Part I
Example 1—Gain. Column (d) is $6,000 and column (e) is
$2,000. Enter $4,000 in column (h).
Example 2—Loss. Column (d) is $6,000 and column (e) is
$8,000. Enter ($2,000) in column (h).
10
Instructions for Form 8949 (2023)
Keep for Your Records
Worksheet for Basis Adjustments in Column (g)
If the basis shown on Form 1099-B (or substitute statement) isn't correct, do the following.
If the basis wasn't reported to the IRS, enter the correct basis in column (e) and enter -0- in column (g) (unless you must make an adjustment for some other reason).
•
You don't need to complete this worksheet.
If the basis was reported to the IRS, enter the reported basis shown on Form 1099-B (or substitute statement) in column (e) and use this worksheet to figure the
adjustment to include in column (g).
•
1. Enter the cost or other basis shown on Form 1099-B (or substitute statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Enter the correct cost or other basis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. If line 1 is larger than line 2, leave this line blank and go to line 4. If line 2 is larger than line 1, subtract line 1 from line 2. Enter the
1.
2.
result here and in column (g) as a negative number (in parentheses) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
4. If line 1 is larger than line 2, subtract line 2 from line 1. Enter the result here and in column (g) as a positive number . . . . . . . .
4.
with box A checked at the top. Enter “B” in column (f). Enter
$1,000 in column (d) and $900 in column (e). To figure your gain
(or loss), subtract $900 from $1,000. Combine the result, $100,
with the $800 adjustment in column (g). Your gain is $900 ($100
+ $800). Enter $900 in column (h).
Example 5—Digital asset. You purchased one unit of digital
asset A on June 1, 2020, for $1,000. On June 1, 2023, you use a
platform for trading digital assets to exchange your unit of digital
asset A for one unit of digital asset B with a fair market value of
$3,000. You must report a long-term capital gain of $2,000.
Example 6—Digital asset. You are a self-employed
attorney who performs legal services for a client. The client gives
you one unit of digital asset A as payment for services. At the
time of the payment, the fair market value of one unit of digital
asset A is $10,000. You report $10,000 in self-employment
income (the fair market value of one unit of digital asset A). Two
months later, when the fair market value of one unit of digital
asset A is $12,000, you decide to sell it. You must report a
short-term capital gain of $2,000, which is the difference
between the sales price ($12,000) and your basis in one unit of
digital asset A ($10,000).
Keep for Your Records
Worksheet for Accrued Market Discount Adjustment in Column (g)
If you received a Form 1099-B (or substitute statement) reporting the sale or retirement of a market discount bond, enter code “D” for the transaction in column (f) of the
appropriate part of Form 8949 and complete this worksheet to figure the amount to enter in column (g). If, in addition, any of the amounts shown on Form 1099-B (or
substitute statement) are incorrect, see How To Complete Form 8949, Columns (f) and (g), earlier, for information on how to correct those amounts. Use the corrected
amounts when completing this worksheet.
1. Enter the proceeds from box 1d of Form 1099-B (or substitute statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Enter the basis from box 1e of Form 1099-B (or substitute statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. Subtract line 2 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. Enter the accrued market discount from box 1f of Form 1099-B (or substitute statement) . . . . . . . . . . . . . . . . . . . . . . . . . .
1.
2.
3.
4.
5. Enter the smaller of line 3 or line 4, or, if lines 3 and 4 are the same, enter the amount from line 3. This is the amount of your gain
that is ordinary income. Enter it as a negative amount (in parentheses) in Form 8949, column (g). Also, report it as interest income
on your tax return. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.
Worksheet for Contingent Payment Debt Instrument
Adjustment in Column (g)
Keep for Your Records
If you received a Form 1099-B (or substitute statement) reporting the sale of a taxable contingent payment debt instrument subject to the noncontingent bond method,
enter code “O” for the transaction in column (f) of the appropriate part of Form 8949 and complete this worksheet to figure the amount to enter in column (g). If, in addition,
any of the amounts shown on Form 1099-B (or substitute statement) are incorrect, see How To Complete Form 8949, Columns (f) and (g), earlier, for information on how
to correct those amounts. Use the corrected amounts when completing this worksheet. Don’t use this worksheet if there are no remaining contingent payments on the
debt instrument as of the sale, exchange, or retirement of the instrument. See Regulations section 1.1275-4(b)(8)(iii).
1. Enter the proceeds from box 1d of Form 1099-B (or substitute statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Enter the basis from box 1e of Form 1099-B (or substitute statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.
2.
3.
4. If line 3 is more than zero, enter the number from line 3. This is the amount of your gain that is ordinary income. Enter this amount
as a negative amount (in parentheses) in Form 8949, column (g), and enter “O” in column (f). Also, report it as interest income on
your tax return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.
5. If line 3 is less than zero, enter the total amount of OID on this debt instrument that you included in income for the entire period
that you held the debt instrument . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.
6. Enter the total amount of net negative adjustments on the debt instrument that you took into account as ordinary losses over the
entire period that you held the debt instrument. Enter this amount as a negative amount (in parentheses) . . . . . . . . . . . . . . . 6.
7. Add lines 5 and 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8. Enter the amount from line 3 as a positive amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. Enter the smaller of line 7 or line 8. This is the amount of your loss that is an ordinary loss. Enter it as a positive amount in Form
7.
8.
8949, column (g), and enter “O” in column (f). Also, report it as an ordinary loss on your tax return . . . . . . . . . . . . . . . . . . . . 9.
11
Instructions for Form 8949 (2023)
How To Report an Election To Defer Tax on
Eligible Gain Invested in a Qualified Opportunity
Fund (QOF)
Reporting the deferral election. Each QOF investment of
section 1231 gains will use two separate rows in Part II
(long-term transactions) of Form 8949.
For the first row, in column (a), write “QOF INVESTMENT
•
For more information on QOFs, see Pub. 544.
FROM FORM 4797.” Leave columns (b) through (e) blank. Enter
code “O” in column (f), and in column (g) report the amount of
the QOF investment from Form 4797 as a positive number. For
example, if ($75,000) was reported in column (g) of Form 4797,
report $75,000 in column (g) of Form 8949.
TIP
If you elect to defer tax on an eligible gain by investing in a
QOF, report the eligible gain on the form and in the manner
otherwise instructed. For example, individual taxpayers would
report gain from the sale of stock on Form 8949 and Schedule D
(Form 1040). If the gain is reported on Form 8949, do not make
any adjustments for the deferral in column (g).
Report the deferral of the eligible gain on its own row of Form
8949 in Part I with box C checked or Part II with box F checked
(depending on whether the gain being deferred is short term or
long term). If you made multiple investments in different QOFs or
in the same QOF on different dates, use a separate row for each
investment. If you invested eligible gains of the same character
(but from different transactions) on the same date into the same
QOF, you can group those investments on the same row. In
column (a), enter only the employer identification number (EIN)
of the QOF into which you invested. In column (b), enter the date
you invested in the QOF. Leave columns (c), (d), and (e) blank.
Enter code “Z” in column (f) and the amount of the deferred gain
as a negative number (in parentheses) in column (g).
Your investment in a QOF can be used to defer only long-term
gain, only short-term gain, or a combination of both short-term
and long-term gain. You do not need to trace or allocate the
funds invested in a QOF to the specific gain being deferred, but
the investment in the QOF must have occurred within the
180-day period beginning on the date the deferred gain was
realized. If you realized both short-term and long-term gains
during the 180-day period, you can choose how much of each
gain to defer by reporting the deferral in Part I or Part II, as
applicable. The character of the eligible gain will survive the
investment in the QOF. When you recognize the eligible gain
(either when you sell or exchange or otherwise dispose of your
investment in the QOF or December 31, 2026, whichever is
earlier), the gain you recognize will be the same character as the
gain you deferred.
For the second row, in column (a), enter only the EIN of the
•
QOF investment. In column (b), enter the date of the QOF
investment. Leave columns (c), (d), and (e) blank. Enter code “Z”
in column (f) and the amount of the deferred gain as a negative
number (in parentheses) in column (g).
Reporting the inclusion. Each inclusion will use two separate
rows in Part II.
For the first row, in column (a), write “QOF INCLUSION
•
EVENT FROM SECTION 1231 GAINS.” Leave columns (b)
through (e) blank. Enter code “O” in column (f), and in column (g)
report the amount of the included section 1231 gains to Form
4797 as a negative number (in parentheses). For example,
$75,000 inclusion of section 1231 gains was reported in column
(g) of Form 4797, report ($75,000) in column (g) of Form 8949.
For the second row, enter the EIN of the QOF investment in
•
column (a). Complete columns (b) and (c). Leave (d) and (e)
blank. Enter code "Y" in column (f), and in column (g) enter the
amount of previously deferred gain as a positive number.
How To Report Gain Previously Deferred in a
QOF Investment
If you sold or exchanged your investment in a QOF during the tax
year, you must report the amount of eligible gain that you
previously deferred and that you are now recognizing. Report the
gain from each investment on its own row. Check box C in Part I
or check box F in Part II depending on whether the gain is short
term or long term. The gain you recognize will be the same
character as the gain you deferred. Put the EIN of the QOF
investment you are selling in column (a). Complete columns (b),
(c), (d), and (e). Enter code "Y" in column (f), and enter the
amount of previously deferred gain as a positive number in
column (g).
If you are attaching multiple Forms 8949 to your return,
attach the Form(s) 8949 that lists code "Z" in column (f)
first.
TIP
If you disposed of your investment in a QOF, you will also
need to complete Form 8997. See the instructions for
Form 8997 for more information.
TIP
If you elect to defer tax on an eligible gain by investing in
a QOF, you will need to complete a Form 8997 for each
year you hold the investment and for the year you
TIP
Line 2
dispose of the investment. If you have held that investment for
more than 5 years, see the instructions for Form 8997 for
additional information regarding the basis of that investment.
The total of the amounts in column (h) of line 2 of all your Forms
8949 should equal the amount you get by combining columns
(d), (e), and (g) on the corresponding line of Schedule D (Form
1040). For example, the total of the amounts in column (h) of
line 2 of all your Forms 8949 with box A checked should equal
the amount you get by combining columns (d), (e), and (g) on
line 1b of Schedule D. The total of the amounts in column (h) of
line 2 of all your Forms 8949 with box E checked should equal
the amount you get by combining columns (d), (e), and (g) on
line 9 of Schedule D.
How To Report Eligible Gains From Section 1231
Property
Taxpayers deferring eligible gains from section 1231 property,
including gains from installment sales and like-kind exchanges,
by investing in a QOF must report the deferral election on Form
8949 in the tax year of the deferral. Likewise, taxpayers selling or
exchanging a QOF investment must report the inclusion of the
eligible gain on Form 8949.
12
Instructions for Form 8949 (2023)