To report certain transactions you don't have to report on Form 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. (However, corporations report this type of gain (or loss) on Form 8949.) To report your share of a gain (or loss) from a partnership, S corporation, estate, or trust.
To report a capital loss carryover from the previous tax year to the current tax year. To report capital gain distributions not reported directly on Form 1040 or 1040-SR, line 7 (or effectively connected capital gain distributions not reported directly on Form 1040-NR, line 7). To report a gain (or loss) from Form 4684, 6781, or 8824. To report a gain from Form 6252 or Part I of Form 4797. To figure the overall gain (or loss) from transactions reported on Form 8949. See Schedule A to Form 8971-Consistent basis reporting under Column (e)-Cost or Other Basis, later, for more information on consistent basis reporting and the amount you will report on Form 8949. 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 Exception 1 under the instructions for line 1, later. 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 How To Complete Form 8949, Columns (f) and (g), later, for details about these adjustments. If any correction or adjustment to these amounts is needed, make it in column (g). 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 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. 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. Use Form 8949 to report sales and exchanges of capital assets.
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