which of the following statements is true? - A separate form 8949 must be filed for...

which of the following statements is true?

- A separate form 8949 must be filed for each transaction for which the tax payer did not receive a form 1099B.

- any taxpayer must file a separate schedule D for each form 1099B transaction with bases reported to the IRS.

- short term transactions are reported on form 8949 and long-term transactions are reported on schedule D.

- The totals from each schedule D are combined on form 8949.

Solutions

Expert Solution

The true statement is,

-any taxpayer must file a separate schedule D for each form 1099 B transaction with bases reported to the IRS.

Reason:

If the taxpayer has the short term transactions or long term transactions, he has to report this information on schedule D. It should also have an IRS form.Schedule D requires its taxpayers to report some transactions of sales price, its cost, gains or losses. These information can be collected from 1099 B,which the taxpayer must file IRS for reporting.

Thus, the statement; "any taxpayer must file a separate schedule D for each 1099 B transaction with bases reported to IRS.

ekkarill92 answered 1 year ago

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