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IRS

Some Must-Know Info About IRS Form 8949

Proper filing requires different 1099s for stocks and real property.


[Updated: Mar 04, 2021 ] Nov 10, 2020 by Marc Rapport

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For tax-reporting purposes, the difference between covered and noncovered shares is this: For covered shares, we're required to report cost basis to both you and the IRS. For noncovered shares, the cost basis reporting is sent only to you. You are responsible for reporting the sale of noncovered shares.

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