Finance Exam Prep
Ran Chen, EA, CFP®
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Enrolled Agent Exam [Part 1] 90, Form 8949 Reporting Requirements
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • The critical distinction between reporting transactions directly on Schedule D versus detailing them on Form 8949. • How to use Form 1099-B information, specifically whether basis is reported to the IRS, to determine the correct reporting method. • The precise steps for reporting a wash sale on Form 8949, including the use of code 'W' and the basis adjustment for the new shares. • How to correctly report a non-deductible loss from a sale to a related party using adjustment code 'L'. • A simple mnemonic to remember that any transaction requiring an adjustment code or correction must be reported on Form 8949. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
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