A taxpayer received a Form 1099-B reporting proceeds and basis for a 2024 sale of stock. Which of the following statements is NOT CORRECT regarding the proper reporting of 1099-B information in 2024? Transactions reported on Form 1099-B for which basis was reported to the IRS and for which the taxpayer has no adjustments must be reported on Form 8949. Taxpayers may simply separate all Form 1099-B amounts into a short and long term summary, and report directly on revised Schedule D, Lines 1a (short-term) and 8a (long-term). Preparers of Form 1099-B are to furnish Copy B of the form to the recipient by February 15 each year. Transactions reported on Form 1099-B for which basis was reported to the IRS and for which the taxpayer has no adjustments may be excluded from reporting on Form 8949.