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Capital Gains and Losses

The information from Form 1099-B will need to be entered correctly into the software so the data regarding a sale of an asset will be reported on Form 8949, Schedule D, and Form 1040, Line 13.

To enter Form 1099-B for your capital gain or loss transactions:
  1. From within your TaxAct return (Online or Desktop), click on the Federal tab. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal
  2. Click Investment Income to expand the category and then click Gain or loss on sale of investments
  3. Click Capital gain or loss (Form 1099-B)
  4. Click Add to create a new copy of the form or click Review to review a form already created 
  5. The program will proceed with the interview questions for you to enter or review the appropriate information
By entering data for a Form 1099-B, a Form 8949 and Schedule D will be created. The information from Schedule D populates on Form 1040, Line 13.

Please refer to IRS Publication 550 Investment Income and Expenses, for additional information.

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