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

What You Need to Know About an IRS Statutory Notice of Deficiency

The Statutory Notice of Deficiency is part of a series of notices sent by the IRS to propose additional tax, penalties and interest. Learn more from the tax experts at H&R Block.

Estimated Tax Form 1040ES

Do you need to file estimated taxes each quarter? Learn more about quarterly tax payments and get tax answers at H&R Block.

What Is Form 1099-G?

If you’ve received unemployment compensation or a state tax refund, you’ll receive Form 1099-G. Learn more about Form 1099-G and how it affects your taxes.

Form W-2G, Certain Gambling Winnings

If you receive a Form W-2G for gambling winnings, you must report the full amount of income shown on the W-2G on your tax return. Learn more from H&R Block.