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

Income — Capital Gain or Loss Workout

Form 8949 and Schedule D

Case Study 2: Form 8949 and Schedule D

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?

Click here for an explanation.

Gloria.
Publication 4012 Capital Gain or Loss Transactions Worksheet

Publication 4012 Capital Gain or Loss Transactions Worksheet