What this line means
The total long-term gains and losses from assets reported on Form 8949 with Box F checked — meaning you did not receive a 1099-B for these transactions at all. These are assets held more than one year sold in transactions where no broker reported the sale to the IRS.
Does this apply to you?
- You sold real estate (other than your primary residence excluded under Section 121) in a private transaction
- You sold cryptocurrency held more than a year through a decentralized exchange or private transaction
- You sold collectibles, artwork, or precious metals held more than one year without a broker involved
- You sold a business interest, patent, or other intangible asset in a private sale
Easy to overlook
Real estate sales without a 1099-S Not all real estate sales generate a 1099-S. Sales handled directly between buyer and seller, or certain sales of a primary residence, often do not. But the gain is still taxable. If you sold rental property or land at a profit and did not receive a 1099-S, you still report the gain here via Form 8949 Box F. 1 General filing pattern — unreported real estate sales
Collectibles are taxed at a maximum 28% rate Gold, silver, coins, art, antiques, gems, and stamps held over one year are taxed at a maximum rate of 28% — not the usual 0%/15%/20% long-term capital gains rate. This is a ceiling, not a flat rate: if your marginal ordinary income rate is below 28%, you pay your ordinary rate on collectibles gains instead. The 28% cap only kicks in for filers in the 32% bracket and above. The 28% rate gain gets reported separately on line 19 of the summary section. 2 IRS Schedule D instructions — Line 8c
Watch out for this
Not reporting the sale of a rental property because the title company did not issue a 1099-S. The IRS cross-references property records. If you owned a property, sold it, and did not report the sale, the omission is discoverable. Report the sale on Form 8949 with Box F and include the depreciation recapture on Form 4797.
Footnotes
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IRS Publication 550, Investment Income and Expenses. https://www.irs.gov/pub/irs-pdf/p550.pdf ↩
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IRS Schedule D (Form 1040) Instructions, Line 8c. https://www.irs.gov/instructions/i1040sd ↩