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Reload this Page Just FYI: there are some changes to 1040 Tax Form (taxes, rate, reporting)
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Old 01-24-2012, 01:12 PM
 
Location: Tricity, PL
61,701 posts, read 87,101,195 times
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What's New for Tax Form 1040 - SmartMoney.com
More Changes to Tax Form 1040 - SmartMoney.com
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Old 01-24-2012, 02:01 PM
 
Location: Skokiewood
732 posts, read 2,981,340 times
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I suspect the change that will affect the most taxpayers is the new Form 8949 that will be used to report sales of capital assets. Brokerage firms will now be reporting basis information to the IRS on stock/bond/mutual fund sales in taxable accounts. I foresee a huge headache on the same level as the one caused when "qualified dividends" subject to the 15% rate were first introduced. I wonder how many 1099-Bs will be late, corrected, or reissued.
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