IRS Courseware - Link & Learn Taxes (2024)

You received a Form 1099-B (or substitute statement), the basis shown in box 3 is incorrect… B Enter the basis shown on Form 1099-B (or substitute statement) in column (e).

If the correct basis is higher than the basis shown on Form 1099-B (or substitute statement), enter the difference between the two amounts as a negative number (in parentheses) in column (g).

If the correct basis is lower than the basis shown on Form 1099-B (or substitute statement), enter the difference between the two amounts as a positive number in column (g).

You received a Form 1099-B (or substitute statement) and the type of gain or loss indicated in box 8 is incorrect… T Enter -0- in column (g) unless an adjustment is required because of another code. Report the gain or loss in the correct Part of Form 8949. You received a Form 1099-B or 1099-S as a nominee for the actual owner of the property… N Report the transaction on Form 8949 as you would if you were the actual owner, but enter any resulting gain as a negative adjustment (in parentheses) in column (g) or any resulting loss as a positive adjustment in column (g). However, if you received capital gain distributions as a nominee, report them instead as described under Capital Gain Distributions, earlier. You sold or exchanged your main home at a gain, must report the sale or exchange on Form 8949, and can exclude some or all of the gain… H Report the sale or exchange on Form 8949 as you would if you were not taking the exclusion. Then enter the amount of excluded (nontaxable) gain as a negative number (in parentheses) in column (g). See the example in the instructions for Form 8949, column (g). You sold or exchanged qualified small business stock and can exclude part of the gain… S Report the sale or exchange on Form 8949 as you would if you were not taking the exclusion. Then enter the amount of the exclusion as a negative number (in parentheses) in column (g). You can exclude all or part of your gain under the rules explained earlier in these instructions for DC Zone assets or qualified community assets… X Report the sale or exchange on Form 8949 as you would if you were not taking the exclusion. Then enter the amount of the exclusion as a negative number (in parentheses) in column (g). You are electing to postpone all or part of your gain under the rules explained earlier in these instructions for rollover of gain from QSB stock, empowerment zone assets, publicly traded securities, or stock sold to ESOPs or certain cooperatives… R Report the sale or exchange on Form 8949 as you would if you were not making the election. Then enter the amount of postponed gain as a negative number (in parentheses) in column (g). You have a nondeductible loss from a wash sale… W Enter the amount of the nondeductible loss as a positive number in column (g). See Wash Sales, earlier, for details. You have a nondeductible loss other than a loss indicated by code W… L Enter the amount of the nondeductible loss as a positive number in column (g). See the example under Nondeductible Losses, earlier. You include any expense of sale or certain option premiums in column (g) or you have an adjustment not explained above in this column… O Enter your expenses of sale or the appropriate adjustment amount in column (g). Enter any expenses of sale as a negative number (in parentheses). See the instructions for Form 8949, column (g). If you sold a call option and it was exercised, see Gain or Loss From Options, earlier, for information about reporting certain option premiums. None of the other statements in this column apply. . . Leave columns (f) and (g) blank.