The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/lol-phil-knew-i-might-get-called-out-on-this-30558009.aspx

Subject:  Re: Form 8949/1099-B ? Date:  2/23/2013  12:12 PM
Author:  op456op Number:  117856 of 121096

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? :)

Thanks again,

op
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us