Drake Tax - 1099-B - Broker and Barter Transactions

Overview

For sales and other dispositions of capital assets, use screen 8949.

• 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 the Schedule D Instructions and Drake Tax - 8949 - Import Transactions, PDI Indicator or PDF Attachment).

  • to a paper filed return

  • to an e-filed return (see Drake Tax – PDF Attachments - Attachments for e-File for details).

  • to Form 8453 to be mailed after e-filing (see Drake Tax - 8453 - Paper Document Indicator for details).

• 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 Part I/Part II check box on Form 8949 on screen 8949.

• Up to three Adjustment Codes can be reported on each 8949 screen.

For barter transactions, consult Publication 525.