If you sold stock, funds or crypto in 2025 (the return you file in 2026), Form 8949 is where each sale is listed before the totals go to Schedule D. It looks intimidating, but each row is the same few facts from your broker's statement: what you sold, when you bought and sold it, what you received and what you paid.
This guide explains Parts I and II, the box you check, what goes in each column, and when you can skip the form. It follows the 2025 Form 8949 and its instructions, the latest published; our Form 1099-B guide covers the statement your broker sends.
Use Form 8949 to report sales and exchanges of capital assets. It allows you and the IRS to reconcile amounts that were reported to you and the IRS on Form 1099-B, Form 1099-DA or Form 1099-S (or substitute statements) with the amounts you report on your return. If you receive one of those forms, always report the proceeds (sales price) shown on it in column (d). Individuals also use it for the sale or exchange of a capital asset reported on Form 1099-K. This guide uses the 2025 form, the latest published; the 2026 form will replace it. The IRS has posted an early-release 2026 draft of the form with the same boxes A, B, C, G, H and I, but a draft is not final and must not be filed.
Part I is for short-term transactions, capital assets you held one year or less. Part II is for long-term transactions, assets you held more than one year. To decide, generally count from the day after the day you acquired the asset up to and including the day you disposed of it.
| Box (Part I short-term) | When to check it |
|---|---|
| A | Short-term transactions reported on Form 1099-B showing basis was reported to the IRS |
| B | Short-term transactions reported on Form 1099-B showing basis was not reported to the IRS |
| C | Short-term transactions, other than digital asset transactions, not reported to you on Form 1099-B or Form 1099-DA |
| G | Short-term transactions reported on Form 1099-DA showing basis was reported to the IRS |
| H | Short-term transactions reported on Form 1099-DA showing basis was not reported to the IRS |
| I | Short-term digital asset transactions not reported to you on Form 1099-DA or Form 1099-B |
Part II has the matching long-term boxes. Before checking a box, see whether you received any Form 1099-B or Form 1099-DA, or a substitute statement from your broker. A substitute statement has the same information and shows whether your basis was reported to the IRS, and may even tell you which box to check.
| Column | What to enter |
|---|---|
| (a) Description | The property, for example 100 sh. XYZ Co. |
| (b) Date acquired | The date you acquired the property |
| (c) Date sold | The date you sold or disposed of it |
| (d) Proceeds | The sales price; always the amount on your Form 1099-B or 1099-DA when you have one |
| (e) Cost or other basis | What you paid, adjusted as required |
| (g) Adjustments | Adjustments to the gain or loss, such as for a wash sale |
| (h) Gain or loss | Proceeds minus basis, then adjustments in column (g) |
If you did not receive a Form 1099-B, Form 1099-DA or Form 1099-S for a transaction, enter the net proceeds in column (d). The wash sale loss your broker disallows appears in Box 1g of the Form 1099-B; see our Form 1099-B guide and wash sale guide.
The IRS instructions give this example: column (d) is $6,000 and column (e) is $2,000. The gain is $6,000 minus $2,000, which is $4,000, assuming no adjustments in column (g). If you held the asset one year or less, the line goes in Part I; if more than one year, in Part II. Totals from Form 8949 then go to Schedule D, where short-term and long-term results are combined. See our capital gains brackets guide for the rates.
Form 8949 is not required for certain transactions. You may be able to aggregate them and report them directly on line 1a (short-term) or line 8a (long-term) of Schedule D. This applies only to transactions other than sales of collectibles. For a Form 1099-B, one condition is that it shows basis was reported to the IRS and does not show any adjustments in box 1f or 1g; the same applies to a Form 1099-DA with no adjustments in box 1h or 1i. The Ordinary box on the form must not be checked, you must not need to adjust the basis or type of gain, and you must not be electing to defer gain through a qualified opportunity fund. Read the full list of conditions in the form instructions before relying on this.
IRS Form 8949 (2025), IRS Instructions for Form 8949, IRS Topic no. 409, Capital gains and losses.