Michigan 1040d 2023-2024 Form

Instructions and help about 2021 1040d

so far we've learned what capital gains are how to compute capital gains tax and how to figure out the basis of a capital asset but we really haven't gone into how capital gains are reported on a tax return that's what this video is all about i'm the tax geek back with more of your taxes oversimplified [Music] to start out let's look at the reporting document that you're issued when you sell a capital asset at either a gain or a loss the 1099 b this is the irs version of the form but most of the time this information is presented on a consolidated brokerage statement as long as the brokerage statement shows the same information as the official form it's an acceptable substitute we'll examine brokerage statements in detail in another video we're not going to look at all the boxes on this form just the ones that are relevant to most tax paying investors the left side of the form has the usual identifying information for the payer and recipient at the top of the form is the applicable ch