Get Schedule D (form 1040) - Capital Gains And Losses

Filling out Schedule D is essential for reporting capital gains and losses on your federal tax return. This guide provides clear, step-by-step instructions to help users understand and complete each section of the form online, ensuring accurate reporting and compliance.

Follow the steps to successfully complete Schedule D (Form 1040) online.

1. Click the ‘Get Form’ button to obtain the Schedule D (Form 1040) and access it in the online editor.
2. Enter your social security number and the name(s) shown on your tax return at the top of the form.
3. Indicate whether you disposed of any investments in a qualified opportunity fund during the tax year by selecting 'Yes' or 'No.' If 'Yes', ensure you attach Form 8949 as instructed.
4. Navigate to Part I for short-term capital gains and losses, which applies to assets held for one year or less. Enter details for each transaction in columns (d) for proceeds, (e) for cost, and (g) for adjustments.
5. Calculate the gain or loss by subtracting column (e) from column (d) and combining with column (g). Enter this amount in column (h).
6. Complete lines 1a through 7 for various categories of short-term transactions as outlined. Pay attention to the instructions for whether to report on Form 8949.
7. Proceed to Part II for long-term capital gains and losses, applicable to assets held for more than one year. Similar to Part I, fill in proceeds, cost, adjustments, and calculate the gain or loss.
8. Complete lines 8a through 15 for various categories of long-term transactions. Ensure you follow the instructions carefully.
9. In Part III, compute the summary of net gains or losses by combining the totals from Part I and Part II and entering the result on line 16.
10. Determine if lines 15 and 16 both show gains, and follow the specific instructions for the next steps based on the outcome, including completing further worksheets if applicable.
11. If applicable, enter any loss from line 16 on Form 1040, and follow through lines 21 and 22 as required, particularly if your status involves qualified dividends.
12. Once all information is accurately input, save your changes, and explore options to download, print, or share the completed Schedule D.

Get started today and complete your Schedule D (Form 1040) online with confidence.