Exam Question 16 Which of the following accurately describes when a taxpayer may report capital gain/loss transactions directly on Schedule D instead of using Form 8949? Form 1099-B must be received with or without basis A information reported to the IRS, and W (nondeductible loss from wash sale) is the only adjustment allowed. Form 1099-B must be received and show basis reported to B the IRS, and code B (incorrect basis reported) is the only C D adjustment allowed. Form 1099-B must be received with or without basis reported to the IRS, and no code adjustments must be necessary. Form 1099-B must be received and show basis reported to the IRS, and no code adjustments must be necessary. Exam Question 17