Where do I enter broker and barter exchange transactions in an individual return?
For sales and other dispositions of capital assets, use Screen 8949.
- Screen D (for Schedule D, Capital Gains and Losses) was replaced by screen 8949 to reflect IRS changes in capital-asset reporting. These changes included:
- The introduction of Form 8949, Sales and Other Dispositions of Capital Assets
- The redesign of Schedule D, which now summarizes the data from Form 8949
- The revision of Form 1099-B, Proceeds From Broker and Barter Exchange Transactions. The layout of screen 8949 reflects that of the revised Form 1099-B.
- Screen 8949 is on the Income tab under Sale of Assets. This screen can also be opened by entering screen code 8949 or D.
- Form 8949 replaces Schedule D-1, which previously listed multiple transactions. Individual transactions are entered on screen 8949. The transactions are consolidated and listed on Form 8949, and the totals flow to Schedule D.
- The option is still available to attach a manually-prepared transaction statement (such as a spreadsheet containing all the information contained on Form 8949; see Schedule D Instructions)
- to a paper filed return
- to an e-filed return (see "Attachments for e-Filing - Federal Individual Returns" in Related Links at the bottom of this page).
- to Form 8453 to be mailed after e-filing (see "8949 - Import Transactions, PDI Indicator or PDF Attachment" in Related Links).
- To select box A, B or C at the top of Part 1 (short-term), or box D, E, or F at the top of Part II (long-term), use the field drop list Applicable check box on Form 8949 (in Drake13, Basis not reported on line 3 or Form 1099-B NOT received) on screen 8949.
- Up to three Adjustment Codes can be reported on each 8949 screen.
For barter transactions, consult Publication 525, Taxable and Nontaxable Income (the "Bartering" section under "Miscellaneous Income").
Note: Per Publication 529, page 4, miscellaneous brokerage fees and expenses can no longer be deducted, and as such there is no direct entry line for them in Drake Tax (starting with Drake18). In Drake17 and prior, these might be entered on Schedule A; see Schedule A Instructions for details and limitations.