Question

If I sold some employee stock shares through an online brokerage and taxes were taken out at the time of the sale, do I report this on Form 8949 or Form 1099-B?

Answer

The brokerage should issue you a Form 1099-B showing the sale of the stock and the taxes withheld. Report this information on Form 8949. This amount will then transfer to your Schedule D for the sale and Form 1040 for the tax withheld on the sale.

Related Topics

Related Resources

Received Form 1099-R After Filing Return

Learn what to do if you received form 1099-R after filing your federal tax return with advice from the experts at H&R Block.

Manually Monitored Installment Agreement

A manually monitored installment agreement is monitored by the IRS to ensure payments are made as required and all tax returns are filed and paid by the deadline. Learn more from H&R Block.

IRS Letter 226J – Proposed Employer Shared Responsibility Payment

The IRS think you owe an Employer Shared Responsibility Payment. Learn more about IRS letter 226J from the tax experts at H&R Block.

Audit Report

Once your audit is finished, the IRS will send an audit report that shows the proposed changes to your tax return. Learn more from the experts at H&R Block.