Has anyone checked out form 8949 for 2011 securities reporting? I guess there are new requirements for reporting starting with 2011. I remember hearing something about this but I guess I forgot about it (LOL). What kind of headache is this new form going to cause for the active trader? -Guru
To my Elite friend Guru - from the fight FTT ithread - Our firm just tackled Form 8949 on a Webinar today, and my blog about it should be published by tomorrow. TradeLog is dealing with it in their software, too. The recording and blog are at GreenTraderTax. My partner Darren Neuschwander showed us an example new 1099-Bs and tax returns with filled in Form 8949s, Schedule D and Form 4797, too. We discussed this tax form in full with many implications for this tax season. Every active securities trader should watch this webinar recording and read the blog. Stay tuned as we tackle this further as well.
Not sure what the big deal is here. Instead of listing individual transactions on Sched D, you now list them on form 8949. The extra work is simply transferring the totals to Sched D.