Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Income — Capital Gain or Loss

Form 8949 and Schedule D

Reporting Stock Gains or Losses

Case Study 1

On November 13, Gloria bought 500 shares of XEN, Inc. stock for $20 a share ($10,000 total), plus a $50 commission.

In February, almost four months later, she sold the stock for $8,090 and paid selling expenses of $40. The Form 1099-B from her broker reported a sales price of $8,090 (gross proceeds); Box 1e does not show basis.

Does Gloria have a loss or a gain? Is it short-term or long-term? How does she report it on Form 8949 and Schedule D?