Use Tax Form 1041sd: Capital Gains and Losses as a stand alone tax form calculator to quickly calculate specific amounts for your 2023 tax return. Form 1041sd: Capital Gains and Losses is also integrated into our comprehensive US Tax Calculator where you can complete and save your calculations for later use. Alternatively you can use one of our Combined Federal and State Tax Estimator to quickly calculate your salary, tax and take home pay.

Part I Short-Term Capital Gains and Losses—Assets Held One Year or Less | ||||||||

See instructions for how to figure the amounts to enter on the lines below. This form may be easier to complete if you round off cents to whole dollars. | (d) Proceeds (sales price) | (e) Cost (or other basis) | (g) Adjustments to gain or loss from Form(s) 8949, Part I, line 2, column (g) | (h) Gain or (loss) Subtract column (e) from column (d) and combine the result with column (g) | ||||

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Part II Long-Term Capital Gains and Losses—Assets Held More Than One Year | ||||||||

See instructions for how to figure the amounts to enter on the lines below. This form may be easier to complete if you round off cents to whole dollars. | (d) Proceeds (sales price) | (e) Cost (or other basis) | (g) Adjustments to gain or loss from Form(s) 8949, Part II, line 2, column (g) | (h) Gain or (loss) Subtract column (e) from column (d) and combine the result with column (g) | ||||

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Part III Summary of Parts I and II Caution: Read the instructions before completing this part. | (1) Beneficiaries’ (see instr.) | (2) Estate’s or trust’s | (3) Total | |||||

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18 | Net long-term gain or (loss): | |||||||

a | 18a | |||||||

b | 18b | |||||||

c | 18c | |||||||

19 | 19 | |||||||

Note: If line 19, column (3), is a net gain, enter the gain on Form 1041, line 4 (or Form 990-T, Part I, line 4a). If lines 18a and 19, column (2), are net gains, go to Part V, and don't complete Part IV. If line 19, column (3), is a net loss, complete Part IV and the Capital Loss Carryover Worksheet, as necessary. | ||||||||

Part IV Capital Loss Limitation | ||||||||

20 | Enter here and enter as a (loss) on Form 1041, line 4 (or Form 990-T, Part I, line 4c, if a trust), the smaller of: | |||||||

a | 20 | |||||||

Note: If the loss on line 19, column (3), is more than $3000, or if Form 1041, page 1, line 22 (or Form 990-T, line 34), is a loss, complete the Capital Loss Carryover Worksheet in the instructions to figure your capital loss carryover. | ||||||||

Part V Tax Computation Using Maximum Capital Gains Rates | ||||||||

Form 1041 filers. Complete this part only if both lines 18a and 19 in column (2) are gains, or an amount is entered in Part I or Part II and there is an entry on Form 1041, line 2b(2), and Form 1041, line 22, is more than zero. Caution: Skip this part and complete the Schedule D Tax Worksheet in the instructions if: bull; Either line 18b, col. (2) or line 18c, col. (2) is more than zero, or bull; Both Form 1041, line 2b(1), and Form 4952, line 4g are more than zero. Form 990-T trusts. Complete this part only if both lines 18a and 19 are gains, or qualified dividends are included in income in Part I of Form 990-T, and Form 990-T, line 34, is more than zero. Skip this part and complete the Schedule D Tax Worksheet in the instructions if either line 18b, col. (2) or line 18c, col. (2) is more than zero. | ||||||||

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**Tip:** use the US Tax Calculator to edit your refundable and non-refundable tax credits including Form 1041sd: Capital Gains and Losses. Complete, Calculate, print and or save your tax calculation for later use.

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