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Financial Planning / Tax Strategies
|Subject: Re: Form 8949/1099-B ?||Date: 2/23/2013 12:12 PM|
|Author: op456op||Number: 117856 of 121592|
LOL, Phil. Knew I might get called out on this somehow.
But I think I understand how to report Sales & Other Dispositions of Capital Assets on Form 8949. My (oops, damn pronouns), The it was the equity sale first mentioned.
Nevertheless, for Form 8949, the corrections to errors reported on a 1099-B for Capital Assets are only those designated for Box A (reported to the IRS).
For other "corrections" (the holding period stab) on 1099-B to Capital Assets reported for Box B or C (Supplemental Information, not reported to the IRS) to be recorded on Form 8949, ignore the 1099 errors and report the correct Cost Basis information on Form 8949 that your documentation (statements, confirms, etc) supports in Part 1 or Part 2 as appropriate.
Do I have the interpretations right now, or do I feel another (harder) ruler smack coming? :)
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