8949: Sales and Other Dispositions of Capital Assets (2025)
Federal · IRS · Used for tax years 2025
Form 8949 lists sales and other dispositions of capital assets, including digital assets, and is filed with Schedule D. It reports proceeds, cost or other basis, adjustments, and gains or losses separately for short-term and long-term transactions.
Who files this form
Use Form 8949 to report sales and exchanges of capital assets, such as stocks, bonds, digital assets, and real estate, unless the transactions are reported directly on Schedule D or on another applicable form.
Individuals also use it for items such as nonbusiness bad debts, worthless securities, certain involuntary conversions, qualified opportunity fund transactions, and elections out of the installment method. Corporations, partnerships, estates, and trusts also use Form 8949 for the transactions listed in their instructions.
Report applicable transactions even if you did not receive a Form 1099-B, 1099-DA, or 1099-S. For a sale of your main home, see the Schedule D instructions.
You may not need Form 8949 for every transaction. Certain transactions with basis reported to the IRS and no required adjustments can be reported directly on Schedule D, line 1a or 8a. Check all the conditions under Exception 1 in the instructions.
What you'll need
Gather the items that apply to your transactions:
- Forms 1099-B, 1099-DA, and 1099-S, or substitute statements. These provide transaction amounts and may show whether basis was reported to the IRS.
- Form 1099-K if it reports proceeds from sales of personal property.
- Records showing the property description, acquisition and sale dates, proceeds, and cost or other basis.
- Records of purchase commissions, improvements, depreciation, stock splits, and other basis adjustments.
- For digital assets, the asset name or symbol, exact units disposed of, sale transaction ID if available, and acquisition costs.
- Schedule A (Form 8971), if received for inherited property. Use the most recently dated supplemental schedule if one was provided.
- Schedule D for the return you are filing.
You will also need the name and Social Security number or taxpayer identification number shown on your return.
How to file
File Form 8949 with Schedule D for your tax return. Complete Form 8949 before completing Schedule D lines 1b, 2, 3, 8b, 9, or 10.
- Separate short-term transactions into Part I and long-term transactions into Part II.
- Check one transaction-category box per part. Use separate copies for different categories and additional copies as needed.
- Enter each transaction on a separate row unless a reporting exception applies.
- Transfer the totals from all Parts I and II to the Schedule D lines specified on the form.
If you e-file: If you choose not to report each transaction on a separate row on the electronic return, attach Form 8949 to Form 8453, or the appropriate form in that series, and mail the forms to the IRS. You may substitute statements containing the same information in a format similar to Form 8949. You cannot attach a paper Form 8949 to Form 8453-FE.
This mailing requirement does not apply to transactions qualifying for Exception 1 or the special provision for certain corporations, partnerships, securities dealers, and other qualified entities. For those transactions, an attachment, statement, or Form 8453 is not required.
Common mistakes
- Checking more than one box per part. Check only one box and use a separate Part I or Part II for each applicable category.
- Using boxes C or F for digital assets. Use G, H, or I for short-term digital asset transactions and J, K, or L for long-term transactions.
- Replacing incorrect basis that was reported to the IRS. For boxes A, G, D, or J, enter the reported basis in column (e), then correct it with an adjustment in column (g).
- Leaving out an adjustment code. If you enter an adjustment in column (g), enter the appropriate code in column (f).
- Omitting a spouse's totals on a joint return. Include the totals from both spouses' Forms 8949 on Schedule D, whether you list transactions separately or together.
- Using summary totals without required details under Exception 2. Do not write “Available upon request” instead of providing transaction details on the form or attached statements.
Questions people ask
How do I tell whether a transaction is short-term or long-term?
Generally, property held for 1 year or less is short-term and goes in Part I. Property held for more than 1 year is long-term and goes in Part II. Count from the day after you received the property through the day you disposed of it. Special rules can apply to certain partnership interests.
What if I sold inherited property?
Generally, report the sale in Part II as long-term, regardless of how long you held the property. Enter “INHERITED” in column (b).
What if I have lost my basis records?
For securities, contact your broker for help. Your broker may have reported basis in box 1e of Form 1099-B or box 1g of Form 1099-DA.
Can I deduct a loss from selling personal property reported on Form 1099-K?
No. A personal-property loss is not deductible. If Form 1099-K reports that sale, report the loss with an offsetting entry. If you use Form 8949, enter code “L” in column (f) and a positive adjustment in column (g) that makes the gain or loss in column (h) zero.