This includes assets like stocks, bonds, and real estate. The form categorizes transactions into two parts based on the asset's holding period: short-term and long-term. Each transaction's details, such as sale date, acquisition date, cost basis, and gain or loss, are meticulously recorded...
Self-employed taxpayers report their business income and expenses on Schedule C. TurboTax can help make the job easier.
For the sale of raw land, gains or losses must be reported on Form 8949, with the results transferred to Schedule D. If the property has been owned for less than a year, the sale is reported as a short-term gain or loss, while ownership of a year or more qualifies it as a long-...