Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [schedule-d]

For questions about Schedule D (Form 1040)

15 questions
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How to report adjustment to basis of sale of a publicly traded partnership?

I've received a K-1 from a publicly traded partnership, which lists Cumulative Adjustments to Basis. I sold some of the shares in this PTP in 2011, and for each lot, there is an amount in this category. As I understand it, my basis in these shares…
Tony the Pony
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My stock broker gave me two 1099-Bs. Should I file two Schedule-Ds?

Robinhood is my broker and this year I decided to file my Federal and state taxes by myself. Robinhood gave me two 1099-Bs for last year. Half of my transactions are on one 1099-B and the other half on the other. I don't need to fill out 8949 as…
Aditya
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Received K-1 from ETF whose basis wasn't reported. Can I use just Schedule D without Form 8949?

I received a K-1 from an ETF, as well as an insert with instructions on what to do with the numbers on it. This ETF was my only holding whose basis was not reported to the IRS. The "Other income (loss)" field is equal to the difference between…
David
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Is it mandatory to report Capital Loss on line 21 of Schedule D?

Is it mandatory to specify a capital loss value on line 21 of Schedule D? We are married filling joint return; we have capital loss over $3000 but our income is very low and we don't have to pay taxes. Can we choose to specify 0 on line 21 of…
julia
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Some U.S. Tax Questions (CPA Concerns)

I tried to do my personal taxes myself with TurboTax this year, but decided my situation was more complicated than I could handle, so filed an extension and decided to engage a CPA. He missed a few items in his initial draft, so I am naturally…
Phil Sandler
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Is Form 1040, Line 13 always populated from Schedule D, Line 16?

On schedule D, line 22, it says to Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040, Line 44. If I have reached line 22 on Schedule D, because Line 16 was either a gain or a loss, is Form 1040, Line…
merlin2011
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US tax question, sold foreign stock and after some time repatriated the money. How do I handle currency fluctuations?

I, a US citizen sold some foreign stocks. But could repatriate the money to US after a while. In that time the currency moved substantially. How do I account for currency fluctuations? My Schedule D will have capital gains/losses for the stock. Can…
user2176745
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How do I calculate Tax for a Long Term Capital Gain?

Do I calculate tax based on IRS tax tables on page 65 (or worksheet on page 77, 110) of https://www.irs.gov/pub/irs-pdf/i1040gi.pdf Or Do I calculate tax based on Qualified Dividends and Capital Gain Tax Worksheet (page 36) of…
Marium
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Capital Gains and Capital Gain Distributions for a mutual fund

I'm currently working on my tax return for 2018. I have taken my 1099's and calculated short term and long term capital gains and losses for my mutual funds where basis is reported and unreported. On my 1099 is listed capital gain distributions. …
theronin
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Schedule D, what flow to follow if you have no long term transactions but only short term gain?

The instruction for Schedule D form seems a bit ambiguous. On line 17 it says, If both line 15(total long term) and line 16(total long term + short term) are gains, go to line 18(which makes you do the 28% rate gain worksheet). But it doesn't say…
Aditya
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What are tax implications of short vs long term capital losses?

I have read in multiple places that you can use investment losses of up to $3,000/year against your taxes. Is this as a deduction or credit? Does it count as an addition to itemized deductions or is it a separate deduction? Are short vs long term…
enderland
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Capital-gain taxes on property sales when funds/proceeds were received in a different year than the loss of property/sale?

When you sell property within some year but receive the actual sale proceeds later on a different day (possibly in a different year!), how do you treat this for tax purposes? In particular: What do you use as the "Date sold or disposed of" on Form…
user541686
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Do I have to actively sell a capital asset to be required to file Schedule D?

I'm reading the instructions for 2021 Line 7 for the 1040 and noticed the following Capital Gain or (Loss) If you sold a capital asset, such as a stock or bond, you must complete and attach Form 8949 and Schedule D. Personally I did not…
jxramos
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Capital gain tax from closing down the company in UK

I need help with filing form line 6 form 1040. we live in uk. my husband work as contractor for short term and he need to get pay through his own company. after few months it didnt work out and become employee again and had to close the company He…
k l
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Question: "Qualified Dividends and Capital Gain Tax Worksheet -- line 12a" 1040 2019

2019 was not a good year and my taxable income(1040 line 11b) is $3600. I had dividend and LTCG income so Schedule D sends me to this worksheet: Qualified Dividends and Capital Gains (page 33, 1040 instructions). I had expected to pay no…
jim rothstein
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