The IRS has a new form taxpayers must use to report most capital gains and losses from transactions relating to investment property. In previous years, these transactions would have been reported on your IRS Schedule D or D-1, but for tax year 2011, use Form 8949, Sales and Other Dispositions of Capital Assets.
Here are eight important points about the new Form 8949 and IRS Schedule D, Capital Gains and Losses:
TaxACT Free Federal and Deluxe Editions include the new Form 8949 and Schedule D. As you answer simple questions, TaxACT will complete these forms for you, so you don't have to worry about entering the correct information on the correct line. If you have questions along the way, TaxACT offers free answers online, in the Answer Center and via email. Start your return now.
October 10 (Employees who work for tips)
If you received $20 or more in tips during September, report them to your employer - Details
October 13 (Everyone)
Federal Holiday (Columbus Day) - Details
October 15 (Individuals)
If you have an automatic 6-month extension to file your income tax return for 2013, file Form 1040, 1040A, or 1040EZ and pay any tax, interest, and penalties due - Details
October 15 (Partnerships)
Electing large partnerships: File a 2013 calendar year return (Form 1065-B). This due date applies only if you were given an additional 6-month extension - Details