Get 2000 Instructions For 1120s (schedule D). Capital Gains And Losses And Built-in Gains

Filling out the 2000 Instructions for 1120S (Schedule D) can seem daunting, but with clear guidance, you can accurately report capital gains and losses and built-in gains for S corporations. This guide provides a step-by-step approach to simplify the process and ensure compliance with IRS regulations.

Follow the steps to complete Schedule D efficiently.

1. Press the ‘Get Form’ button to obtain the form and open it in your preferred digital editor.
2. Begin by entering basic information about the corporation at the top of Schedule D, including the corporation’s name, address, and employer identification number (EIN).
3. In Part I, report sales or exchanges of capital assets held for one year or less. List each transaction separately, detailing the date of acquisition and sale, the sales price, and cost or other basis.
4. Proceed to Part II for transactions involving capital assets held for more than one year. Report sales, exchanges, and distributions of these assets with the same comprehensive details as in Part I.
5. In columns (e), (f), and (g), calculate the gain or loss for each transaction. For column (f), subtract the basis from the sales price. Insert any collectibles gains in column (g).
6. Complete Part III only if the corporation has a net capital gain exceeding $25,000 and answers 'Yes' to all questions A, B, and C regarding tax liabilities.
7. Fill out Part IV if applicable. Indicate applicable built-in gains and losses, following specific rules for corporations transitioning from C to S status.
8. Review the filled-out form carefully for accuracy. Save any changes, then download, print, or share the completed Schedule D as necessary.

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