Tax Time – Goodbye Schedule D-1

When I first heard that the IRS was getting rid of the Schedule D, there was a fraction of a second when I thought that this might actually mean my taxes would get a little less complicated. Unfortunately, I heard wrong…the IRS only got rid of the D-1 form.

From an investing standpoint, the Schedule D-1 was an extra form for “active” investors. By active, I mean you filled it out if you had more than 4 trades in a year…that was about the max you could fit in the Schedule D.

Out with the old and in with the new. The new form is call “Form 8949″ – Sales and Other Dispositions of Capital Assets”, and it impacts anyone who has capital gains or losses in 2011. Continue reading here…

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