Taxation Project 2

SCHEDULE D (Form 1040)

Department of the Treasury Internal Revenue Service

Capital Gains and Losses Attach to Form 1040, 1040-SR, or 1040-NR.

Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10. Go to www.irs.gov/ScheduleD for instructions and the latest information.

OMB No. 1545-0074

2023 Attachment Sequence No. 12

Name(s) shown on return Your social security number

Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? Yes No If “Yes,” attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss.

Part I Short-Term Capital Gains and Losses—Generally Assets Held One Year or Less (see instructions)

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 long-

term capital gains or losses, go to Part II below. Otherwise, go to Part III on the back . . . . . . 7

Part II Long-Term Capital Gains and Losses—Generally Assets Held More Than One Year (see instructions)

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)

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

For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 11338H Schedule D (Form 1040) 2023

Schedule D (Form 1040) 2023 Page 2

Part III Summary

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, 1040-SR, or 1040-NR, line 7. 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, 1040-SR, or 1040-NR, line 7. 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 If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, if any, from line 7 of that worksheet . . . . . . . . . . . . . . . . . . 18

19 If you are required to complete the Unrecaptured Section 1250 Gain Worksheet (see instructions), enter the amount, if any, from line 18 of that worksheet . . . . . . . . . . 19

20 Are lines 18 and 19 both zero or blank and you are not filing Form 4952? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040, line 16. Don’t complete lines 21 and 22 below.

No. Complete the Schedule D Tax Worksheet in the instructions. Don’t complete lines 21 and 22 below.

21 If line 16 is a loss, enter here and on Form 1040, 1040-SR, or 1040-NR, line 7, the smaller of:

• The loss on line 16; or • ($3,000), or if married filing separately, ($1,500) } . . . . . . . . . . . . . . . 21 ( )

Note: When figuring which amount is smaller, treat both amounts as positive numbers.

22 Do you have qualified dividends on Form 1040, 1040-SR, or 1040-NR, line 3a?

Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040, line 16.

No. Complete the rest of Form 1040, 1040-SR, or 1040-NR.

Schedule D (Form 1040) 2023

Version A, Cycle 3

INTERNAL USE ONLY DRAFT AS OF April 26, 2023

2023 Schedule D (Form 1040)

SE:W:CAR:MP

Capital Gains and Losses

SCHEDULE D  (Form 1040)

Department of the Treasury Internal Revenue Service

Capital Gains and Losses

Attach to Form 1040, 1040-SR, or 1040-NR.

Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10. 

Go to www.irs.gov/ScheduleD for instructions and the latest information.  

OMB No. 1545-0074

2023

2023. Cat. No. 11338H.

Attachment 

Sequence No. 12 

Attachment Sequence No. 12. O M B No. 1545-0074. For Paperwork Reduction Act Notice, see your tax return instructions.

Did you dispose of any investment(s) in a qualified opportunity fund during the tax year?

If “Yes,” attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss.

Part I

Short-Term Capital Gains and Losses—Generally Assets Held One Year or Less  (see instructions)

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)Adjustmentsto 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 long-term capital gains or losses, go to Part II below. Otherwise, go to Part III on the back           

7

Part II

Long-Term Capital Gains and Losses—Generally Assets Held More Than One Year (see instructions)

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) Adjustmentsto 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) 

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

For Paperwork Reduction Act Notice, see your tax return instructions.

Cat. No. 11338H

Schedule D (Form 1040) 2023

Schedule D (Form 1040) 2023

Page 2 

Part III

Summary

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, 1040-SR, or 1040-NR, line 7.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, 1040-SR, or 1040-NR, line 7. 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 

If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, if any, from line 7 of that worksheet         

18

19 

If you are required to complete the Unrecaptured Section 1250 Gain Worksheet (see instructions), enter the amount, if any, from line 18 of that worksheet         

19

20

Are lines 18 and 19 both zero or blank and you are not filing Form 4952?

Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040, line 16. Don’t complete lines 21 and 22 below. 

No. Complete the Schedule D Tax Worksheet in the instructions. Don’t complete lines 21 and 22 below. 

21

If line 16 is a loss, enter here and on Form 1040, 1040-SR, or 1040-NR, line 7, the smaller of: 

• The loss on line 16; or 

• ($3,000), or if married filing separately, ($1,500) 

}

         

21

(                                 )

Note: When figuring which amount is smaller, treat both amounts as positive numbers. 

22

Do you have qualified dividends on Form 1040, 1040-SR, or 1040-NR, line 3a?

Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040, line 16. 

No. Complete the rest of Form 1040, 1040-SR, or 1040-NR. 

Schedule D (Form 1040) 2023