Per IRS Publication 550 Investment Income and Expenses, on page 65:

Form 1099-CAP transactions. If a corporation in which you own stock has had a change in control or a substantial change in capital structure, you should receive Form 1099-CAP, Changes in Corporate Control and Capital Structure, from the corporation. Use the Form 1099-CAP to fill in Form 8949. If your computations show that you would have a loss because of the change, do not enter any amounts on Form 8949 or Schedule D (Form 1040 or 1040-SR) as a result of this transaction.

Report the aggregate amount received shown in box 2 of Form 1099-CAP as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies.

Capital gains and losses are entered on Form 1099-B Proceeds From Broker and Barter Exchange Transactions in TaxAct, then automatically flow to Schedule D and/or Form 8949. To enter Form 1099-B in the TaxAct program, go to our Forms 8949 and 1099-B - Entering Stock Transactions in Program FAQ.

You will need to enter the property description, date acquired, cost or other basis, date sold, sales proceeds, and any federal income tax withheld. The 1099-B form you received may or may not report the date acquired or the cost basis. This information is maintained by you and is needed to complete the proper reporting of the transactions on Schedule D. If there are various purchase dates, go to our Capital Gains and Losses - Various Purchase Dates FAQ.

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