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The IRS mandates specific adjustment codes for the reporting of capital gain/loss transactions. These adjustment codes are listed starting on page 7 of the Instructions for Form 8949 Sales and Other Dispositions of Capital Assets, along with information explaining the situation each code represents and information regarding how to properly report the adjustment amount in your return.

These adjustment codes are included on Form 8949, which will print along with Schedule D (Form 1040) Capital Gains and Losses. The adjustment amount will also be listed on Form 8949 and will transfer over to Schedule D. For more information, see the IRS Instructions for Schedule D.

To enter an adjustment code for a transaction in TaxAct (if you need help accessing Form 1099-B, go to our Form 1099-B - Entering Capital Gains and Losses in Program FAQ):

  1. From within your Form 1099-B, continue with the interview process until you reach the screen titled Investment Sales - Adjustment Code(s).
  2. Click the Other adjustment code dropdown, and click the applicable adjustment code.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.

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