Form 8949 Checklist – 2022 Tax Year
Form 8949 reports sales and exchanges of capital assets for the 2022 tax year and reconciles amounts reported to you and the IRS with the figures you include on your federal income tax return. You use this form to support Schedule D Capital Gains and Losses, which attaches to Form 1040 and determines how capital gains and losses affect your overall income tax.
The form requires you to separate short-term and long-term transactions and identify whether Form 1099-B reported your cost basis to the IRS. Careful completion ensures that Schedule D reflects accurate totals and that your federal income tax returns properly account for each reported sale or exchange.
Determine Whether Form 8949 Is Required
Form 8949 is required when a taxpayer sells or exchanges capital assets during 2022 and cannot report all transactions directly on Schedule D. Brokers issue Form 1099-B to report proceeds and indicate whether they reported cost or other basis to the IRS; that reporting status determines how each section of the form must be completed.
Certain transactions may be reported directly on Schedule D line 1a for short-term gains or line 8a for long-term gains when the basis was reported to the IRS, and no adjustments apply. When those exception conditions are satisfied, totals may be entered on Schedule D without listing each transaction separately on Form 8949.
Organize Transactions by Holding Period
You must divide all capital transactions into short-term and long-term categories before completing Form 8949. Short-term transactions involve assets held one year or less, and long-term transactions involve assets held more than one year.
Complete Part I for short-term transactions and Part II for long-term transactions, and select the appropriate reporting box at the top of each part. Each holding period requires separate reporting, and you must evaluate the Form 1099-B information independently for short-term and long-term groups.
Select the Correct Reporting Box
Form 8949 requires you to check one box for each group of transactions based on whether you received Form 1099-B and whether the basis was reported to the IRS. If transactions fall into more than one reporting category within the same holding period, you must file separate Form 8949 pages for each applicable box.
For Part I (Short-Term), select one of the following:
- Select Box A when Form 1099-B was issued to you, and the basis was reported to the IRS.
- Choose Box B when Form 1099-B was issued, but the basis was not reported to the IRS.
- Use Box C when you did not receive Form 1099-B for the transaction.
For Part II (Long-Term), select one of the following:
- Select Box D when Form 1099-B was issued to you, and the basis was reported to the IRS.
- Choose Box E in cases where Form 1099-B was provided, but the basis was not reported to the IRS.
- Mark Box F if no Form 1099-B was received for the transaction.
Report Short-Term Transactions in Part I
If you qualify under Box A and meet the exception conditions because the basis was reported to the IRS and no adjustments are required, you may report totals directly on Schedule D line 1a. In that situation, you do not list individual transactions on Form 8949; instead, you transfer the aggregated totals to Schedule D Capital Gains and Losses.
For Boxes B and C, you must list each short-term transaction separately and complete all required columns on Form 8949. Describe the property, the acquisition date, the disposition date, proceeds in column (d), cost or other basis in column (e), any adjustment code in column (f), the adjustment amount in column (g), and the resulting gain or loss in column (h).
Report Long-Term Transactions in Part II
If you qualify under Box D and meet the exception conditions because the basis was reported and no adjustments are needed, you may report totals directly on Schedule D line 8a. When you use this method, you do not list individual long-term transactions on Form 8949; instead, you enter the combined totals on Schedule D Capital Gains and Losses.
For Boxes E and F, you must list each long-term transaction individually and complete columns (a) through (h) in full. After totaling each column, you transfer the results to the appropriate long-term lines on Schedule D, which then flow to Form 1040 as part of your income tax calculation.
Adjust Basis and Apply Codes Properly
When Form 1099-B shows that the broker reported basis to the IRS, you generally enter that same basis amount in column (e) of Form 8949. If the reported basis is incorrect or incomplete, you must correct it by entering the appropriate adjustment code in column (f) and the corresponding adjustment amount in column (g).
Each amount entered in column (g) must match a valid code entered in column (f), and you must calculate the corrected gain or loss in column (h). This process reconciles differences between the broker-reported information and your actual records and ensures accurate reporting for the 2022 tax year.
Transfer Totals to Schedule D and Form 1040
After completing all required Form 8949 pages, you total each column within the applicable boxes and carry those totals to Schedule D Capital Gains and Losses. Schedule D integrates short-term totals into lines 1b, 2, and 3 and long-term totals into lines 8b, 9, and 10 before calculating your net capital gain or loss.
Schedule D then attaches to Form 1040 and determines how your capital gains and losses affect your overall income tax for the 2022 tax year. Accurate transfers prevent discrepancies between Form 8949, Schedule D, and your federal income tax returns.
Assemble and Retain Supporting Records
All completed Form 8949 pages must be attached to Schedule D in proper sequence when filing a paper return, and Schedule D must then be connected to Form 1040. For the 2022 tax year, Form 8949 carries attachment sequence number 12A, which helps ensure that the return is assembled in the correct order.
Taxpayers should retain Form 1099-B, broker statements, and related documentation with their tax records to support reported proceeds, basis amounts, holding periods, and adjustment codes. Well-organized records enable substantiation of the figures reported on Form 8949 and Schedule D if the IRS reviews federal income tax returns.
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This checklist is for educational purposes only and does not constitute tax or legal advice. Always review official IRS instructions and consult a qualified professional for guidance.
