In previous tax years, if you had sold stocks, bonds, mutual funds, and other capital assets, the realized capital gains and losses for those transactions would be reported in Schedule D and D-1.
Starting with the 2011 tax year, there are significant changes to the reporting requirements. Many transactions that, in previous years, would have been reported on Schedule D or D-1 must now be reported on a brand new Form 8949. Schedule D has effectively become just a summary of the information reported in Form 8949 and other forms, and Schedule D-1 is now obsolete.
Moreover, with the new cost basis reporting requirements, qualifying transactions reported on Form 8949 must be reconciled to information reported by your brokerage firms on their Form 1099-B.
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