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…

This entry was posted in Current Events, Investing, Personal Finance and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.