Form 8949 "Exception 1"

Form 8949 isn't required for certain transactions.

You may be able to

• aggregate those transactions and
• report them directly on either line 1a (for short-term transactions) or line 8a (for long-term transactions) of Schedule D.

This option applies only to transactions (other than sales of collectibles) for which:

1. You received a Form 1099-B (or substitute statement) that shows basis was reported to the IRS and
2. doesn't show any adjustments in box 1f or 1g;
3. The Ordinary box in box 2 isn’t checked;
4. You don't need to make any adjustments to the basis or type of gain or (loss) reported on Form 1099-B (or substitute statement), or to your gain or (loss); and
5. You aren't electing to defer income due to an investment in a QOF and aren't terminating deferral from an investment in a QOF.

If you choose to report these transactions directly on Schedule D, you

• don't need to include them on Form 8949 and
• don't need to attach a statement.

For more information, see the Schedule D instructions.

If you qualify to use Exception 1 and also qualify to use Exception 2 , you can use both. Report the transactions that qualify for Exception 1 directly on either line 1a or 8a of Schedule D, whichever applies. Report the rest of your transactions as explained in Exception 2.