IRS 1040 - Schedule D 2015 free printable template
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For Paperwork Reduction Act Notice see your tax return instructions. Cat. No. 11338H Schedule D Form 1040 2015 Page 2 Summary Combine lines 7 and 15 and enter the result. SCHEDULE D Form 1040 Department of the Treasury Internal Revenue Service 99 OMB No* 1545-0074 Capital Gains and Losses Attachment Sequence No* 12 Your social security number Name s shown on return Part I Attach to Form 1040 or Form 1040NR* Information about Schedule D and its separate instructions is at www*irs*gov/scheduled*... Use Form 8949 to list your transactions for lines 1b 2 3 8b 9 and 10. 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 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. Box A checked. 2 Totals for all transactions reported on Form s 8949 with 4 Short-term gain from Form 6252 and short-term gain or loss from Forms 4684 6781 and 8824. 5 Net short-term gain or loss from partnerships S corporations estates...and trusts from Schedule s K-1. 6 Short-term capital loss carryover. Enter the amount if any from line 8 of your Capital Loss Carryover Worksheet in the instructions. Long-Term Capital Gains and Losses Assets Held More Than One Year 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. 12 Net long-term gain or loss from partnerships S corporations estates and trusts from Schedule s K-1 13 Capital gain distributions. See...the instructions. 14 Long-term capital loss carryover. Enter the amount if any from line 13 of your Capital Loss Carryover the back. 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. Are lines...15 and 16 both gains Yes. Go to line 18. No* Skip lines 18 through 21 and go to line 22. Enter the amount if any from line 7 of the 28 Rate Gain Worksheet in the instructions instructions. 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 The loss on line 16 or ...3 000 or if married filing separately 1 500 Note When figuring which amount is smaller treat both amounts as positive numbers.
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How to fill out IRS 1040 - Schedule D
To fill out the IRS 1040 - Schedule D, follow these steps:
01
Gather relevant records of your capital gains and losses from the tax year.
02
Start by entering your name and Social Security number at the top of the form.
03
Complete Part I for short-term gains and losses and Part II for long-term gains and losses.
04
Calculate the totals and transfer them to your Form 1040.
05
Review the form carefully before submission.
About IRS 1040 - Schedule D 2015 previous version
What is IRS 1040 - Schedule D?
IRS 1040 - Schedule D is a tax form used for reporting capital gains and losses. Taxpayers use this form to detail their investment income and losses, allowing them to compute the overall tax obligations resulting from their investments.
Who needs the form?
Taxpayers who have sold or exchanged capital assets such as stocks, bonds, or real estate during the tax year must complete IRS 1040 - Schedule D. This includes individuals who need to report short-term and long-term capital gains or losses.
Components of the form
IRS 1040 - Schedule D consists of three primary parts. Part I is for reporting short-term capital gains and losses. Part II focuses on long-term capital gains and losses. Part III summarizes your totals and helps determine your overall capital gains tax liability.
What information do you need when you file the form?
When filing IRS 1040 - Schedule D, you will need documentation of all capital transactions. This includes the date of acquisition, date of sale, the cost basis of the asset, the sale price, and any expenses associated with the sale. Accurate records are crucial for proper reporting.
Where do I send the form?
Depending on your state of residence and whether you are filing electronically or via paper, the submission address for IRS 1040 - Schedule D may vary. Generally, it should be sent to the address specified in the IRS instructions included with your Form 1040. If filing electronically, your tax software will automatically handle the submission.
What is the purpose of this form?
The primary purpose of the IRS 1040 - Schedule D is to report sales or exchanges of capital assets and to calculate the gain or loss from each sale. This form also helps taxpayers determine their overall tax liability based on these transactions.
When am I exempt from filling out this form?
You are exempt from filing IRS 1040 - Schedule D if you did not have any capital gains or losses during the tax year. Additionally, if you only received qualified dividends and/or capital gain distributions that are reported on your Form 1040, you do not need to fill out Schedule D.
What are the penalties for not issuing the form?
Failure to file IRS 1040 - Schedule D, when required, can result in penalties. The IRS may impose fines based on the unpaid tax amount associated with capital gains. Additionally, interest penalties may apply until the tax is paid, which can add to the total amount owed.
Is the form accompanied by other forms?
IRS 1040 - Schedule D can be accompanied by Form 8949, which provides details about each individual sale or exchange of capital assets. It serves as a supporting document to help calculate your total capital gains and losses reported on the Schedule D form.
FAQ about IRS 1040 - Schedule D
What should you do if you notice an error on your filed IRS 1040 - Schedule D?
If you find a mistake on your filed IRS 1040 - Schedule D, you can file an amended return using Form 1040-X. Make sure to clearly indicate the changes made and include any necessary documentation to support your corrections. It's essential to address errors promptly to avoid potential penalties or delays.
How can you verify the status of your IRS 1040 - Schedule D submission?
To track the status of your IRS 1040 - Schedule D, you can use the IRS 'Where’s My Refund?' tool or check your e-file software if you submitted electronically. Ensure you have your personal information handy, such as Social Security number, filing status, and the exact refund amount, for accurate tracking.
What should you consider regarding privacy and data security when filing your IRS 1040 - Schedule D electronically?
When e-filing your IRS 1040 - Schedule D, ensure that you use a trustworthy tax software that encrypts your data. Keep your computer's antivirus software updated and consider using a secure Wi-Fi connection to protect your sensitive information while submitting your tax forms.
What common mistakes should filers avoid when submitting the IRS 1040 - Schedule D?
Common errors when filing your IRS 1040 - Schedule D include miscalculating gains/losses and failing to report all transactions. It’s crucial to double-check your entries and ensure that all relevant transactions are included to prevent any discrepancies that could trigger an audit.
How can non-residents or foreign payees file an IRS 1040 - Schedule D?
Non-residents or foreign payees are required to follow specific IRS guidelines to file an IRS 1040 - Schedule D. It's advisable to consult IRS resources or a tax professional who specializes in international taxation to navigate complexities like income sourcing and compliance with treaties.
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