{"id":20250,"date":"2017-06-14T12:00:00","date_gmt":"2017-06-14T12:00:00","guid":{"rendered":"https:\/\/www.hrblock.com\/tax-center\/"},"modified":"2023-04-03T14:24:31","modified_gmt":"2023-04-03T19:24:31","slug":"using-form-8949-to-report-taxes-withheld","status":"publish","type":"post","link":"https:\/\/www.hrblock.com\/tax-center\/irs\/forms\/using-form-8949-to-report-taxes-withheld\/","title":{"rendered":"If I sold some employee stock shares through an online brokerage and taxes were taken out at the time of the sale, do I"},"content":{"rendered":"

The brokerage should issue you a\u00a0Form 1099-B<\/a>\u00a0showing the sale of the stock and the taxes withheld.<\/p>\n

Report this information on Form 8949. This amount will then transfer to your\u00a0Schedule D<\/a>\u00a0for the sale and Form 1040<\/a> for the tax withheld on the sale.<\/p>\n

What is Form 8949 Used For?<\/h2>\n

\"reviewingIf you exchange or sell capital assets, report them on your federal tax return using Form 8949: Sales and Other Dispositions of Capital Assets. You will report the totals of Form 8949 on Schedule D of Form 1040.<\/p>\n

Here is more information on how Tax Form 8949 is used from the IRS<\/a>:<\/p>\n

If you receive Forms 1099-B or 1099-S (or substitute statements), always report the proceeds (sales price) shown on the form (or statement) in column (d) of Form 8949. If Form 1099-B (or substitute statement) shows that the cost or other basis was reported to the IRS, always report the basis shown on that form (or statement) in column (e). If any correction or adjustment to these amounts is needed, make it in column (g). See\u00a0How To Complete Form 8949, Columns (f) and (g), later, for details about these adjustments.<\/em><\/p><\/blockquote>\n

How To Fill Out Tax Form 8949<\/h2>\n

Here is a summary of how to fill out tax form 8949.<\/p>\n

If all Forms 1099-B (or all substitute statements) you received show basis was reported to the IRS and no correction or adjustment is needed, you may not need to file Form 8949. See\u00a0Exception 1<\/em>\u00a0under the instructions for line 1.<\/p>\n

You\u2019ll report the following information about short-term transactions in Part I:<\/p>\n