Form 8949 – Your Ultimate Guide to Capital Gains and Losses Reporting

Form 8949 Calculator & Filing Guide

Complete guide to reporting capital gains and losses on cryptocurrency, stocks, and other capital assets

Quick Navigation

What is Form 8949

Form 8949 is an IRS tax form used to report capital gains and losses from investment transactions. This form is essential for reporting:

  • Stock trades and investments
  • Cryptocurrency transactions
  • Property sales
  • Other capital asset dispositions

When Do You Need Form 8949?

You must file Form 8949 when you:

  • Sell stocks, bonds, or other securities
  • Trade cryptocurrencies
  • Dispose of capital assets
  • Receive Form 1099-B from your broker

Form 8949 Calculator

Holding Period:
Capital Gain/Loss:
Tax Classification:

Filing Instructions

1

Gather Your Documents

Collect all Forms 1099-B, investment statements, and transaction records for the tax year.

2

Sort Your Transactions

Separate transactions into short-term (held ≤ 1 year) and long-term (held > 1 year) categories.

3

Enter Transaction Details

For each transaction, enter the description, dates, cost basis, and proceeds.

4

Check Adjustments

Verify if any wash sales or other adjustments apply to your transactions.

Common Mistakes to Avoid

Missing Transactions

Ensure all capital asset transactions are reported, including cryptocurrency trades.

Incorrect Dates

Double-check acquisition and disposition dates for accurate holding period calculation.

Wrong Cost Basis

Verify your purchase price and include any transaction fees in your cost basis.

Wash Sale Rules

Be aware of wash sale rules when repurchasing similar securities within 30 days.

Frequently Asked Questions

Do I need to file Form 8949 for every transaction?

You must report each transaction separately unless your broker provides a composite 1099-B that meets specific IRS requirements.

How do I report cryptocurrency transactions?

Report each crypto sale or exchange as a separate transaction, including crypto-to-crypto trades.

What if I don't have the exact purchase date?

Use your best estimate and maintain documentation to support your reported date. Mark the date as "Various" if multiple purchases were made.

How do I handle wash sales?

Mark the transaction as a wash sale and adjust the basis according to IRS rules. The loss is deferred and added to the replacement security's basis.

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