# Capital Gains and Losses

## Form 1040 Schedule D: Capital Gains and Losses

Use Tax Form 1040 Schedule D: Capital Gains and Losses as a stand alone tax form calculator to quickly calculate specific amounts for your 2020 tax return. Form 1040 Schedule D: 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.

 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) 1a Totals for all short-term transactions reported on Form 1099-B 🖩 for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949 🖩, leave this line blank and go to line 1b . 1b Totals for all transactions reported on Form(s) 8949 🖩 with Box A checked 2 Totals for all transactions reported on Form(s) 8949 🖩 with Box B checked 3 Totals for all transactions reported on Form(s) 8949 🖩 with Box C checked 4 Short-term gain from Form 6252 🖩 and short-term gain or (loss) from Forms 4684 🖩, 6781 🖩, and 8824 🖩 4 5 Net short-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s)K-1 🖩 5 6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your Capital Loss Carryover Worksheet in the instructions 🖩 6 7 Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). If you have any longterm capital gains or losses, go to Part II below. Otherwise, go to Part III on the back 7
 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) 8a Totals for all long-term transactions reported on Form 1099-B 🖩 for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949 🖩, leave this line blank and go to line 8b 8b Totals for all transactions reported on Form(s) 8949 🖩 with Box D checked 9 Totals for all transactions reported on Form(s) 8949 🖩 with Box E checked 10 Totals for all transactions reported on Form(s) 8949 🖩 with Box F checked 11 Gain from Form 4797 🖩, Part I; long-term gain from Forms 2439 🖩 and 6252 🖩; and long-term gain or (loss) from Forms 4684 🖩, 6781 🖩, and 8824 🖩 11 12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 🖩 12 13 Capital gain distributions. See the instructions 13 14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover Worksheet in the instructions 🖩 14 15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Then go to Part III on the back 15 16 Combine lines 7 and 15 and enter the result 16 • If line 16 is a gain, enter the amount from line 16 on Form 1040, line 13, or Form 1040NR, line 14. Then go to line 17 below. • If line 16 is a loss, skip lines 17 through 20 below. Then go to line 21. Also be sure to complete line 22. • If line 16 is zero, skip lines 17 through 21 below and enter -0- on Form 1040, line 13, or Form 1040NR, line 14. Then go to line 22. 17 Are lines 15 and 16 both gains? Yes. Go to line 18. No. Skip lines 18 through 21, and go to line 22. 18 Enter the amount, if any, from line 7 of the 28% Rate Gain Worksheet in the instructions 🖩 18 19 Enter the amount, if any, from line 18 of the Unrecaptured Section 1250 Gain Worksheet in the instructions 🖩 19 20 Are lines 18 and 19 both zero or blank? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040, line 44 (or in the instructions for Form 1040NR, line 42). Do not complete lines 21 and 22 below. No. Complete the Schedule D Tax Worksheet in the instructions 🖩. Do not complete lines 21 and 22 below. 21 If line 16 is a loss, enter here and on Form 1040, line 13, or Form 1040NR, line 14, the smaller of: • The loss on line 16 or • (\$3000), or if married filing separately, (\$1,500) Note: When figuring which amount is smaller, treat both amounts as positive numbers. 21 22 Do you have qualified dividends on Form 1040, line 9b, or Form 1040NR, line 10b? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040, line 44 (or in the instructions for Form 1040NR, line 42). No. Complete the rest of Form 1040 or Form 1040NR.

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