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Wow, just discovered this new form required along with Schedule D. So much for paper work reduction and tax simplication.

For those who haven't seen it yet, instead of simply listing stock sales on Schedule D, you now have to list them on Form 8949. Moreover, they have to be divided into one of three categories and each category gets a seperate form. I'm going to have to file two of these forms but some will be lucky enough to need to file three.

No idea what all this is designed to accomplish except, perhaps, to get more people to hire professional preparers. Who says the government can't create jobs?
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I'm going to have to file two of these forms but some will be lucky enough to need to file three.

That's good news to me. I'd gotten it into my head that you could have as many as six--three for short-term and three for long-term. At least in TaxWise you can just list everything on one input screen, and the software will move the data to the appropriate form(s).

Phil
Rule Your Retirement Home Fool
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At least in TaxWise you can just list everything on one input screen, and the software will move the data to the appropriate form(s).



looks to be same in TurboTax ...

the new form has to do with handling the new 1099Bs, no?
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and the software will move the data to the appropriate form(s).

News to me ... but I just checked my TaxACT software and it too flows and summarizes the transactions into Form 8949. phew ....

Rich
Arizona
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