I Need a Schedule D and/or 8949. Why Can't I Find the Form?
If you're looking to file Schedule D (Form 1040) or Form 8949 for reporting capital gains and losses, you may be wondering why you can't find the forms directly. This is because these forms are typically accessed and completed within tax preparation software or through the IRS website using specific links.
Why Can't I Find Schedule D or Form 8949?
- Forms are part of a larger filing process: Schedule D and Form 8949 are not standalone forms you can simply download and fill out independently. They are designed to be completed in conjunction with Form 1040 and other related forms.
- Software integration: When using tax preparation software (such as OLT - Online Taxes), these forms are added automatically through guided steps. You don’t need to search for them separately.
- IRS website navigation: The IRS provides direct links to forms via their website. For example, you can access Form 1040 at IRS.gov/Form1040, and Schedule D at IRS.gov/ScheduleD.
How to Add Schedule D or Form 8949 in OLT Software
When filing your return using OLT (Online Taxes) software:
- Go to the Federal section in your tax return.
- Under the Income section, click on "Show more" near Capital Gains or Losses.
- Select "Add or Edit" next to Capital Gain/Loss - Schedule D, Form 8949, 1099-B, 1099-S.
- Follow the on-screen instructions to complete the forms.
When Do I Need Schedule D or Form 8949?
- Use Form 8949 to report sales and dispositions of capital assets, including stocks, bonds, and crypto assets.
- Use Schedule D to summarize your capital gains and losses from Form 8949 and other sources.
- Report gains from partnerships, estates, trusts, or Form 2439 on Schedule D (line 11).
- Use Form 8949 to report undistributed long-term capital gains from Form 2439 (for individuals, estates, trusts).
Important Notes
- Complete Form 8949 before filling out Schedule D (lines 1b, 2, 3, 8b, 9, or 10).
- If you have no adjustments to basis and received a Form 1099-B with basis reported to the IRS, you may not need to file Form 8949.
- Always refer to the official instructions for accurate completion.
Source:
Schedule D (Form 1040) Instructions
Form 8949 Instructions
Disclaimer: Always verify information with official Federal or State Department of Revenue Forms and Instructions.