Drake Tax - 1099-B - Broker and Barter Transactions
Article #: 10542
Last Updated: October 18, 2024
Overview
For sales and other dispositions of capital assets, use screen 8949.
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Individual transactions are entered on screen 8949. The transactions are consolidated and listed on Form 8949, and the totals flow to Schedule D.
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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).
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to a paper filed return
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to an e-filed return (see Drake Tax – e-File Attachments for details).
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to Form 8453 to be mailed after e-filing (see Drake Tax - 8453 - Paper Document Indicator for details).
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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.
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Up to three Adjustment Codes can be reported on each 8949 screen.
For barter transactions, consult Publication 525.
Note Per Publication 529, miscellaneous brokerage fees and expenses can no longer be deducted, and as such there is no direct entry line for them in Drake Tax.