表格 1040 附表D 指令

关于附表D(表1040或表1040-SR)资本损益的说明

2023年修订本

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表格 1040 附表D 所需员额 - 资本损益

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Department of the Treasury

Internal Revenue Service

2023 Instructions for Schedule D

These instructions explain how to complete Schedule D (Form 1040). Complete Form

8949 before you complete line 1b, 2, 3, 8b, 9, or 10 of Schedule D.

Capital Gains

Use Schedule D:

and Losses

To figure the overall gain or loss from transactions reported on Form 8949;

To report certain transactions you don't have to report on Form 8949;

To report a gain from Form 2439 or 6252 or Part I of Form 4797;

To report a gain or loss from Form 4684, 6781, or 8824;

To report a gain or loss from a partnership, S corporation, estate, or trust;

To report capital gain distributions not reported directly on Form 1040 or

•

1040-SR, line 7 (or effectively connected capital gain distributions not reported direct-

ly on Form 1040-NR, line 7); and

To report a capital loss carryover from 2022 to 2023.

•

Additional information. See Pub. 544 and Pub. 550 for more details.

Section references are to the Internal

Revenue Code unless otherwise noted.

er, for more information about when

Form 8949 is needed and when it isn't.

with your trading business, if you previ-

ously made a mark-to-market election.

See Traders in Securities, later.

Use Form 4797 to report the follow-

ing.

Future Developments

Use Form 4684 to report involuntary

conversions of property due to casualty

or theft.

For the latest information about devel-

opments related to Schedule D and its

instructions, such as legislation enacted

after they were published, go to IRS.gov/

ScheduleD.

1. The sale or exchange of:

a. Real property used in your trade

or business;

Use Form 6781 to report gains and

losses from section 1256 contracts and

straddles.

b. Depreciable and amortizable tan-

gible property used in your trade or

business (but see Disposition of Depre-

ciable Property Not Used in Trade or

Business in the Form 4797 instructions);

What’s New

Use Form 8824 to report like-kind

exchanges. A like-kind exchange occurs

when you exchange business or invest-

ment property for property of a like

kind.

Deferral of gain invested in a qualified

opportunity fund (QOF). Taxpayers

who made a deferral election in a QOF

that meets the 5-year holding period

threshold shall be eligible for the 10%

stepped up basis. See Form 8997 and its

instructions for additional information

regarding QOFs.

c. Oil, gas, geothermal, or other

mineral property; and

d. Section 126 property.

Use Form 8960 to figure any net in-

vestment income tax relating to gains

and losses reported on Schedule D, in-

cluding gains and losses from a securi-

ties trading activity.

2. The involuntary conversion (other

than from casualty or theft) of property

used in a trade or business and capital

assets held more than 1 year for business

or profit. But see Disposition of Depre-

ciable Property Not Used in Trade or

Business in the Form 4797 instructions.

General

Use Form 8997 to report each QOF

investment you held at the beginning

and end of the tax year and the deferred

gains associated with each investment.

Also, use Form 8997 to report any capi-

tal gains you are deferring by investing

in a QOF during the tax year and any

QOF investment you disposed of during

the tax year.

Instructions

3. The disposition of noncapital as-

sets other than inventory or property

held primarily for sale to customers in

the ordinary course of your trade or

business.

Other Forms You May Have

To File

Use Form 461 to figure your excess

business loss.

4. Ordinary loss on the sale, ex-

change, or worthlessness of small busi-

ness investment company (section 1242)

stock.

Use Form 8949 to report the sale or

exchange of a capital asset (defined lat-

er) not reported on another form or

schedule and to report the income defer-

ral or exclusion of capital gains. See the

Instructions for Form 8949. Complete

all necessary pages of Form 8949 before

you complete line 1b, 2, 3, 8b, 9, or 10

of Schedule D. See Lines 1a and 8a, lat-

Capital Asset

Most property you own and use for per-

sonal purposes or investment is a capital

asset. For example, your house, furni-

ture, car, stocks, and bonds are capital

assets. A capital asset is any property

owned by you except the following.

5. Ordinary loss on the sale, ex-

change, or worthlessness of small busi-

ness (section 1244) stock.

6. Ordinary gain or loss on securi-

ties or commodities held in connection

D-1

Cat. No. 24331I

Oct 30, 2023

1. Stock in trade or other property

included in inventory or held mainly for

sale to customers in the ordinary course

of your trade or business. But see the

TIP about certain musical compositions

or copyrights, later.

8. Certain hedging transactions en-

tered into in the normal course of your

trade or business. See section 1221(a)(7)

and (b)(2).

For more information about holding

periods, see the Instructions for Form

8949.

Capital Gain Distributions

9. Supplies regularly used in your

trade or business.

These distributions are paid by a mutual

fund (or other regulated investment

company) or real estate investment trust

from its net realized long-term capital

gains. Distributions of net realized

short-term capital gains aren't treated as

capital gains. Instead, they are included

on Form 1099-DIV as ordinary divi-

dends.

2. Accounts or notes receivable:

You can elect to treat as capital

a. For services rendered in the ordi-

nary course of your trade or business,

assets certain musical composi-

tions or copyrights you sold or

TIP

b. For services rendered as an em-

ployee, or

exchanged. See Pub. 550 for details.

Basis and Recordkeeping

c. From the sale of stock in trade or

other property included in inventory or

held mainly for sale to customers.

Basis is the amount of your investment

in property for tax purposes. The basis

of property you buy is usually its cost.

There are special rules for certain kinds

of property, such as inherited property.

You need to know your basis to figure

any gain or loss on the sale or other dis-

position of the property. You must keep

accurate records that show the basis and,

if applicable, adjusted basis of your

property. Your records should show the

purchase price, including commissions;

increases to basis, such as the cost of

improvements; and decreases to basis,

such as depreciation, nondividend distri-

butions on stock, and stock splits.

Enter on Schedule D, line 13, the to-

tal capital gain distributions paid to you

during the year, regardless of how long

you held your investment. This amount

is shown in box 2a of Form 1099-DIV.

3. Depreciable property used in your

trade or business, even if it is fully de-

preciated.

4. Real estate used in your trade or

business.

If there is an amount in box 2b, in-

clude that amount on line 11 of the Un-

recaptured Section 1250 Gain Work-

sheet in these instructions if you com-

plete line 19 of Schedule D.

5. A patent, invention, model, or de-

sign (whether or not patented); a secret

formula or process; a copyright; a liter-

ary, musical, or artistic composition; a

letter or memorandum; or similar prop-

erty that is:

If there is an amount in box 2c, see

Exclusion of Gain on Qualified Small

Business (QSB) Stock, later.

a. Created by your personal efforts;

b. Prepared or produced for you (in

the case of a letter, memorandum, or

similar property); or

If there is an amount in box 2d, in-

clude that amount on line 4 of the 28%

Rate Gain Worksheet in these instruc-

tions if you complete line 18 of Sched-

ule D.

If you received a Schedule A to Form

8971 from an executor of an estate or

other person required to file an estate tax

return, you may be required to report a

basis consistent with the estate tax value

of the property.

c. Received under circumstances

(such as by gift) that entitle you to the

basis of the person who created the

property or for whom the property was

prepared or produced. See section

1221(a)(3).

If you received capital gain distribu-

tions as a nominee (that is, they were

paid to you but actually belong to some-

one else), report on Schedule D, line 13,

only the amount that belongs to you. At-

For more information on consistent

basis reporting and basis generally, see

Column (e)—Cost or Other Basis in the

Instructions for Form 8949, and the fol-

lowing publications.

But see the TIP about certain musical

compositions or copyrights below.

tach

statement showing the full

6. A U.S. Government publication,

including the Congressional Record, that

you received:

amount you received and the amount

you received as a nominee. See the In-

structions for Schedule B to learn about

the requirement for you to file Forms

1099-DIV and 1096.

Pub. 551, Basis of Assets.

Pub. 550, Investment Income and

Expenses.

•

a. From the U.S. Government (or

any governmental agency) for an

amount other than the normal sales

price, or

Short- or Long-Term Gain or

Loss

Sale of Your Home

You may not need to report the sale or

exchange of your main home. If you

must report it, complete Form 8949 be-

fore Schedule D.

b. Under circumstances (such as by

gift) that entitle you to the basis of

someone who received the publication

for an amount other than the normal

sales price.

Report short-term gains or losses in Part

I. Report long-term gains or losses in

Part II. The holding period for

short-term capital gains and losses is

generally 1 year or less. The holding pe-

riod for long-term capital gains and los-

ses is generally more than 1 year. How-

ever, beginning in 2018, the long-term

holding period for certain gains with re-

spect to “applicable partnership inter-

ests” is more than 3 years. See Pub. 541

for more information.

Report the sale or exchange of your

main home on Form 8949 if:

7. Certain commodities derivative

financial instruments held by a dealer

and connected to the dealer's activities

as a dealer. See section 1221(a)(6) and

(b)(1).

You can't exclude all of your gain

from income, or

•

You received a Form 1099-S for

the sale or exchange.

•

Any gain you can't exclude is taxable.

Generally, if you meet the following two

D-2

tests, you can exclude up to $250,000 of

gain. If both you and your spouse meet

these tests and you file a joint return,

you can exclude up to $500,000 of gain

(but only one spouse needs to meet the

ownership requirement in T e st 1).

Example. Tamara buys a house in

Virginia in 2011 that she uses as her

main home for 3 years. For 8 years,

from 2014 through 2022, Tamara serves

on qualified official extended duty as a

member of the uniformed services in

Kuwait. In 2023, Tamara sells the house.

Tamara didn't use the house as her main

home for at least 2 of the 5 years before

the sale. To meet T e st 1, Tamara elects to

suspend the 5-year test period during her

8-year period of uniformed service in

Kuwait. Because that 8-year period

won't be counted in determining if she

used the house as her main home for 2

of the 5 years before the sale, she meets

the ownership and use requirements of

T e st 1.

More information. See Pub. 523 for

additional details, including how to fig-

ure and report any taxable gain if:

You (or your spouse if married)

used any part of the home for business

or rental purposes after May 6, 1997; or

•

Test 1. During the 5-year period ending

on the date you sold or exchanged your

home, you owned it for 2 years or more

(the ownership requirement) and lived in

it as your main home for 2 years or more

(the use requirement).

There was a period of time after

2008 when the home wasn't your main

home.

•

Partnership Interests

A sale or other disposition of an interest

in a partnership may result in ordinary

income, collectibles gain (28% rate

gain), or unrecaptured section 1250

gain. For details on 28% rate gain, see

the instructions for line 18. For details

on unrecaptured section 1250 gain, see

the instructions for line 19.

Test 2. You haven't excluded gain on

the sale or exchange of another main

home during the 2-year period ending on

the date of the sale or exchange of your

home.

Reduced exclusion. Even if you don't

meet one or both of the above two tests,

you can still claim an exclusion if you

sold or exchanged the home because of

a change in place of employment,

health, or certain unforeseen circumstan-

ces. In this case, the maximum amount

of gain you can exclude is reduced. For

more information, see Pub. 523.

Qualified extended duty. You are on

qualified extended duty if:

Capital Assets Held for

Personal Use

You are called or ordered to active

duty for an indefinite period or for a pe-

riod of more than 90 days; and

•

Generally, gain from the sale or ex-

change of a capital asset held for person-

al use is a capital gain. Report it on

Form 8949 with box C checked (if the

transaction is short term) or box F

checked (if the transaction is long term).

However, if you converted depreciable

property to personal use, all or part of

the gain on the sale or exchange of that

property may have to be recaptured as

ordinary income. Use Part III of Form

4797 to figure the amount of ordinary

income recapture. The recapture amount

is included on line 31 (and line 13) of

Form 4797. Don't enter any gain from

this property on line 32 of Form 4797. If

you aren't completing Part III for any

other properties, enter “N/A” on line 32.

If the total gain is more than the recap-

ture amount, enter “From Form 4797” in

column (a) of Part I of Form 8949 (if the

transaction is short term) or Part II of

Form 8949 (if the transaction is long

term), and skip columns (b) and (c). In

column (d) of Form 8949, enter the ex-

cess of the total gain over the recapture

amount. Leave columns (e) through (g)

blank. Complete column (h). Be sure to

check box C at the top of Part I or box F

at the top of Part II of this Form 8949

(depending on how long you held the as-

set).

You are serving at a duty station at

•

least 50 miles from your main home, or

you are living in government quarters

under government orders.

Sale of home by surviving spouse. If

your spouse died before the sale or ex-

change, you can still exclude up to

$500,000 of gain if:

Sale of home acquired in a like-kind

exchange. You can't exclude any gain

if:

You acquired your home in a

like-kind exchange in which all or part

of the gain wasn't recognized, and

•

The sale or exchange is no later

than 2 years after your spouse's death;

•

Just before your spouse's death,

•

You sold or exchanged the home

during the 5-year period beginning on

the date you acquired it.

•

both spouses met the use requirement of

T e st 1, at least one spouse met the own-

ership requirement of T e st 1, and both

spouses met T e st 2; and

How to report the sale of your main

home. If you have to report the sale or

exchange, report it on Form 8949. If the

gain or loss is short term, report it in

Part I of Form 8949 with box C

checked. If the gain or loss is long term,

report it in Part II of Form 8949 with

box F checked.

You didn't remarry before the sale

or exchange.

•

Exceptions to Test 1. You can choose

to have the 5-year test period for owner-

ship and use in T e st 1 suspended during

any period you or your spouse serves

outside the United States as a Peace

Corps volunteer or serves on qualified

official extended duty as a member of

the uniformed services or Foreign Serv-

ice of the United States, as an employee

of the intelligence community, or out-

side the United States as an employee of

the Peace Corps. This means you may

be able to meet T e st 1 even if, because

of your service, you didn't actually use

the home as your main home for at least

the required 2 years during the 5-year

period ending on the date of sale. The

5-year period can't be extended for more

than 10 years.

If you had a gain and can exclude

part or all of it, enter “H” in column (f)

of Form 8949. Enter the exclusion as a

negative number (in parentheses) in col-

umn (g) of Form 8949. See the instruc-

tions for Form 8949, columns (f), (g),

and (h). Complete all columns.

If you had a loss but have to report

the sale or exchange because you got a

Form 1099-S, see Nondeductible Losses,

later, for instructions about how to re-

port it.

Loss from the sale or exchange of a

capital asset held for personal use isn't

deductible. But if you had a loss from

the sale or exchange of real estate held

for personal use for which you received

D-3

a Form 1099-S, you must report the

transaction on Form 8949 even though

the loss isn't deductible. Also, if you had

a loss from the sale or exchange of per-

sonal property for which you received a

Form 1099-K, you must report the trans-

action on Form 8949 or on Schedule 1

(Form 1040) even though the loss isn’t

deductible.

A fiduciary of a trust and a fiducia-

ductible, enter “L” in column (f) and

$4,000 (the difference between $1,000

and $5,000) in column (g). In column

(h), enter -0- ($1,000 − $5,000 +

$4,000).

•

ry (or beneficiary) of another trust if

both trusts were created by the same

grantor.

An executor of an estate and a ben-

•

eficiary of that estate, unless the sale or

exchange was to satisfy a pecuniary be-

quest (that is, a bequest of a sum of

money).

At-risk rules. If you disposed of (a) an

asset used in an activity to which the

at-risk rules apply, or (b) any part of

your interest in an activity to which the

at-risk rules apply, and you have

amounts in the activity for which you

aren't at risk, see the Instructions for

Form 6198.

An individual and a tax-exempt or-

•

Example. You have a loss on the

sale of a vacation home that isn't your

main home and you received a Form

1099-S for the transaction. Report the

transaction in Part I or Part II of Form

8949, depending on how long you

owned the home. Complete all columns.

Because the loss isn't deductible, enter

“L” in column (f). Enter the difference

between column (d) and column (e) as a

positive amount in column (g). Then

complete column (h). (For example, if

you entered $5,000 in column (d) and

$6,000 in column (e), enter $1,000 in

column (g). Then enter -0- ($5,000 −

$6,000 + $1,000) in column (h). Be sure

to check box C at the top of Part I or box

F at the top of Part II of this Form 8949

(depending on how long you owned the

home).)

ganization controlled directly (or indi-

rectly) by the individual or the individu-

al's family.

Passive activity rules. If the loss is al-

lowable under the at-risk rules, it may be

subject to the passive activity rules. See

Form 8582 and its instructions for de-

tails on reporting capital gains and los-

ses from a passive activity.

See Pub. 544 for more details on

sales and exchanges between related

parties.

Report a transaction that results in a

nondeductible loss in Part I or Part II of

Form 8949 (depending on how long you

held the property). Unless you received

a Form 1099-B for the sale or exchange,

check box C at the top of Part I or box F

at the top of Part II of this Form 8949

(depending on how long you owned the

property). Complete all columns. Be-

cause the loss isn't deductible, enter “L”

in column (f). Enter the amount of the

nondeductible loss as a positive number

in column (g). Complete column (h).

See the instructions for Form 8949, col-

umns (f), (g), and (h).

Items for Special Treatment

Transactions by a securities dealer.

•

See section 475 and Rev. Rul. 97-39,

which begins on page 4 of Internal Rev-

enue Bulletin 1997-39 at IRS.gov/pub/

irs-irbs/irb97-39.pdf.

Bonds and other debt instruments.

See Pub. 550.

•

Certain real estate subdivided for

sale that may be considered a capital as-

set. See section 1237.

•

Capital Losses

You can deduct capital losses up to the

amount of your capital gains plus $3,000

($1,500 if married filing separately).

You may be able to use capital losses

that exceed this limit in future years. For

details, see the instructions for line 21.

Be sure to report all of your capital gains

and losses even if you can't use all of

your losses in 2023.

Gain on the sale of depreciable

•

property to a more-than-50%-owned en-

tity or to a trust of which you are a bene-

ficiary. See Pub. 544.

Example 1. You sold land you held

as an investment for 5 years to your

brother for $10,000. Your basis was

$15,000. On Part II of Form 8949, check

box F at the top. Enter $10,000 on Form

8949, Part II, column (d). Enter $15,000

in column (e). Because the loss isn't de-

ductible, enter “L” in column (f) and

$5,000 (the difference between $10,000

and $15,000) in column (g). In column

(h), enter -0- ($10,000 − $15,000 +

$5,000). If this is your only transaction

on this Form 8949, enter $10,000 on

Schedule D, line 10, column (d). Enter

$15,000 in column (e) and $5,000 in

column (g). In column (h), enter -0-

($10,000 − $15,000 + $5,000).

Gain on the disposition of stock in

domestic international sales corpora-

tions. See section 995(c).

•

Gain on the sale or exchange of

stock in certain foreign corporations.

See section 1248.

•

Certain Nondeductible

Losses

You can’t deduct a loss from a sale or

exchange between certain related par-

ties. This includes a direct or indirect

sale or exchange of property between

any of the following.

Transfer of property to a partner-

•

ship that would be treated as an invest-

ment company if it were incorporated.

See Pub. 541.

Sales of stock received under a

qualified public utility dividend rein-

vestment plan. See Pub. 550.

•

Transfer of appreciated property to

a political organization. See section 84.

Members of a family.

A corporation and an individual

who directly (or indirectly) owns more

than 50% of the corporation's stock (un-

less the loss is from a distribution in

complete liquidation of a corporation).

•

Example 2. You received a Form

1099-B showing proceeds (sales price)

of $1,000 and basis of $5,000. Box 7 on

Form 1099-B is checked, indicating that

your loss of $4,000 ($1,000 − $5,000)

isn't allowed. On the top of Form 8949,

check box A or box B in Part I or box D

or box E in Part II (whichever applies).

Enter $1,000 in column (d) and $5,000

in column (e). Because the loss isn't de-

Transfer of property by a U.S. per-

son to a foreign estate or trust. See sec-

tion 684.

•

If you give up your U.S. citizen-

•

ship, you may be treated as having sold

all your property for its fair market val-

ue on the day before you gave up your

citizenship. This also applies to

long-term U.S. residents who cease to be

A grantor and a fiduciary of a

•

trust.

A fiduciary and a beneficiary of

the same trust.

•

D-4

lawful permanent residents. For details,

exceptions, and rules for reporting these

deemed sales, see Pub. 519 and Form

8854.

ownership transaction was open in any

prior year, you may have to pay interest.

See section 1260(b) for details, includ-

ing how to figure the interest. Include

the interest as an additional tax on

Schedule 2 (Form 1040), line 17z. In the

space provided, enter “Section 1260(b)

interest” and the amount of the interest.

This interest isn't deductible.

bond method and the Ordinary box in

box 2 is checked, an adjustment may be

required. Report the transaction on Form

8949 and complete the form’s Work-

sheet for Contingent Payment Debt In-

strument Adjustment in Column (g) to

figure the adjustment to enter in column

(g) of Form 8949.

In general, no gain or loss is recog-

•

nized on the transfer of property from an

individual to a spouse or a former

spouse if the transfer is incident to a di-

vorce. See Pub. 504.

See Pub. 550 or Pub. 1212 for more

details on any special rules or adjust-

ments that might apply.

Amounts received on the retire-

Gain or loss from the disposition

of stock or other securities in an invest-

ment club. See Pub. 550.

•

ment of a debt instrument are generally

treated as received in exchange for the

debt instrument. See Pub. 550.

Certain virtual currencies, such as

Bitcoin. See the Instructions for Form

•

Wash Sales

Any loss on the disposition of con-

verted wetland or highly erodible crop-

land that is first used for farming after

•

A wash sale occurs when you sell or

otherwise dispose of stock or securities

(including a contract or option to acquire

or sell stock or securities) at a loss and,

within 30 days before or after the sale or

disposition, you:

1040 and IRS.gov/VirtualCurrency F A Qs.

If you are deferring eligible gain

•

March 1, 1986, is reported as

by investing in a QOF, report the gain on

the form on which you normally report

the gain and report the deferral on Form

8949. See How To Report an Election to

Defer Tax on Eligible Gain Invested in a

QOF in the Form 8949 instructions.

long-term capital loss on Form 8949, but

any gain is reported as ordinary income

on Form 4797.

1. Buy substantially identical stock

or securities,

If qualified dividends that you re-

•

ported on Form 1040, 1040-SR, or

1040-NR, line 3a, include extraordinary

dividends, any loss on the sale or ex-

change of the stock is a long-term capi-

tal loss to the extent of the extraordinary

dividends. An extraordinary dividend is

a dividend that equals or exceeds 10%

(5% in the case of preferred stock) of

your basis in the stock.

2. Acquire substantially identical

stock or securities in a fully taxable

trade,

Market Discount Bonds

In general, a capital gain from the dispo-

sition of a market discount bond is trea-

ted as interest income to the extent of

accrued market discount as of the date

of disposition. See sections 1276

through 1278 and Pub. 550 for more in-

formation on market discount. See the

Instructions for Form 8949 for detailed

information about how to report the dis-

position of a market discount bond.

3. Enter into a contract or option to

acquire substantially identical stock or

securities, or

4. Acquire substantially identical

stock or securities for your individual re-

tirement arrangement (IRA) or Roth

IRA.

Amounts received by shareholders

in corporate liquidations. See Pub. 550.

•

Cash received in lieu of fractional

shares of stock as a result of a stock split

or stock dividend. See Pub. 550.

•

You can't deduct losses from wash

sales unless the loss was incurred in the

ordinary course of your business as a

dealer in stock or securities. The basis of

the substantially identical property (or

contract or option to acquire such prop-

erty) is its cost increased by the disal-

lowed loss (except in the case of (4) ear-

lier).

Contingent Payment Debt

Instruments

Load charges to acquire stock in a

•

regulated investment company (includ-

ing a mutual fund), which may not be

taken into account in determining gain

or loss on certain dispositions of the

stock if reinvestment rights were exer-

cised. See Pub. 550.

Any gain recognized on the sale, ex-

change, or retirement of a taxable con-

tingent payment debt instrument subject

to the noncontingent bond method is

treated as interest income rather than as

capital gain, even if you hold the debt

instrument as a capital asset. If you sell

a taxable contingent payment debt in-

strument subject to the noncontingent

bond method at a loss, your loss is an or-

dinary loss to the extent of your prior

original issue discount (OID) inclusions

on the debt instrument. If the debt in-

strument is a capital asset, treat any loss

that is more than your prior OID inclu-

sions as a capital loss. See Regulations

section 1.1275-4(b) for exceptions to

these rules.

The sale or exchange of S corpora-

•

These wash sale rules don't apply to a

redemption of shares in a floating-NAV

(net asset value) money market fund.

tion stock or an interest in a partnership

or trust held for more than 1 year, which

may result in collectibles gain (28% rate

gain). See the instructions for line 18.

If you received a Form 1099-B (or

substitute statement), box 1g of that

form will generally show whether there

was any nondeductible wash sale loss

and its amount if:

Gain or loss on the disposition of

securities futures contracts. See Pub.

550.

•

Gain on the constructive sale of

certain appreciated financial positions.

See Pub. 550.

•

The stock or securities sold were

•

covered securities (defined in the in-

structions for Form 8949, column (e)),

and

Certain constructive ownership

•

transactions. Gain in excess of the gain

you would have recognized if you had

held a financial asset directly during the

term of a derivative contract must be

treated as ordinary income. See section

1260. If any portion of the constructive

The substantially identical stock or

•

If you received a Form 1099-B (or

substitute statement) reporting the sale

of a taxable contingent payment debt in-

strument subject to the noncontingent

securities you bought had the same CU-

SIP number as the stock or securities

you sold and were bought in the same

account as the stock or securities you

D-5

sold. (CUSIP numbers are security iden-

tification numbers.)

4797 instead of on Form 8949. Regard-

less of whether a trader reports his or her

gains and losses on Form 8949 or Form

4797, the gain or loss from the disposi-

tion of securities isn't taken into account

when figuring net earnings from

self-employment on Schedule SE. See

the Instructions for Schedule SE for an

exception that applies to section 1256

contracts.

Internal Revenue Bulletin 1999-7 at

IRS.gov/pub/irs-irbs/irb99-07.pdf.

However, you can't deduct a loss from a

wash sale even if it isn't reported on

Form 1099-B (or substitute statement).

For more details on wash sales, see Pub.

550.

If you hold securities for investment,

you must identify them as such in your

records on the day you acquired them

(for example, by holding the securities

in a separate brokerage account). Securi-

ties that you hold for investment aren't

marked to market.

Report a wash sale transaction in Part

I or Part II (depending on how long you

owned the stock or securities) of Form

8949 with the appropriate box checked.

Complete all columns. Enter “W” in col-

umn (f). Enter as a positive number in

column (g) the amount of the loss not al-

lowed. See the instructions for Form

8949, columns (f), (g), and (h).

Short Sales

The limitation on investment interest

expense that applies to investors doesn't

apply to interest paid or incurred in a

trading business. A trader reports inter-

est expense and other expenses (exclud-

ing commissions and other costs of ac-

quiring or disposing of securities) from a

trading business on Schedule C (instead

of Schedule A).

A short sale is a contract to sell property

you borrowed for delivery to a buyer. At

a later date, you either buy substantially

identical property and deliver it to the

lender or deliver property that you held

but didn't want to transfer at the time of

the sale.

Traders in Securities

You are a trader in securities if you are

engaged in the business of buying and

selling securities for your own account.

To be engaged in business as a trader in

securities, all of the following state-

ments must be true.

Example. You think the value of

XYZ stock will drop. You borrow 10

shares from your broker and sell them

for $100. This is a short sale. You later

buy 10 shares for $80 and deliver them

to your broker to close the short sale.

Your gain is $20 ($100 − $80).

A trader may also hold securities for

investment. The rules for investors will

generally apply to those securities. Allo-

cate interest and other expenses between

your trading business and your invest-

ment securities.

You must seek to profit from daily

•

market movements in the prices of se-

curities and not from dividends, interest,

or capital appreciation.

Holding period. Usually, your holding

period is the amount of time you actual-

ly held the property eventually delivered

to the broker or lender to close the short

sale. However, your gain when closing a

short sale is short term if you (a) held

substantially identical property for 1

year or less on the date of the short sale,

or (b) acquired property substantially

identical to the property sold short after

the short sale but on or before the date

you close the short sale. If you held sub-

stantially identical property for more

than 1 year on the date of a short sale,

any loss realized on the short sale is a

long-term capital loss, even if the prop-

erty used to close the short sale was held

1 year or less.

Mark-to-Market Election for

Traders

Your activity must be substantial.

You must carry on the activity with

continuity and regularity.

•

A trader may make an election under

section 475(f) to report all gains and los-

ses from securities held in connection

with a trading business as ordinary in-

come (or loss), including those from se-

curities held at the end of the year. Se-

curities held at the end of the year are

“marked to market” by treating them as

if they were sold for fair market value

on the last business day of the year.

Generally, the election must be made by

the due date (not including extensions)

of the tax return for the year prior to the

year for which the election becomes ef-

fective. To be effective for 2023, the

election must have been made by the

due date of your 2022 return (not count-

ing extensions).

The following facts and circumstan-

ces should be considered in determining

if your activity is a business.

Typical holding periods for securi-

ties bought and sold.

•

The frequency and dollar amounts

of your trades during the year.

•

The extent to which you pursue the

activity to produce income for a liveli-

hood.

•

The amount of time you devote to

the activity.

•

Reporting a short sale. Report any

short sale on Form 8949 in the year it

closes.

You are considered an investor, and

not a trader, if your activity doesn't meet

the above definition of a business. It

doesn't matter whether you call yourself

a trader or a “day trader.”

If a short sale closed in 2023 but you

didn't get a 2023 Form 1099-B (or sub-

stitute statement) for it because you en-

tered into it before 2011, report it on

Form 8949 in Part I with box C checked

or Part II with box F checked (whichev-

er applies). In column (a), enter (for ex-

ample) “100 sh. XYZ Co.—2010 short

sale closed.” Fill in the other columns

according to their instructions. Report

the short sale the same way if you re-

ceived a 2023 Form 1099-B (or substi-

Starting with the year the election be-

comes effective, a trader reports all

gains and losses from securities held in

connection with the trading business, in-

cluding securities held at the end of the

year, in Part II of Form 4797. If you pre-

viously made the election, see the In-

structions for Form 4797. For details on

making the mark-to-market election for

2023, see Pub. 550 or Rev. Proc. 99-17,

which starts on the bottom of page 52 of

Like an investor, a trader must gener-

ally report each sale of securities (taking

into account commissions and any other

costs of acquiring or disposing of the se-

curities) on Form 8949 unless one of the

exceptions described in the Instructions

for Form 8949 applies. However, if a

trader previously made the mark-to-mar-

ket election (explained below), each

transaction is reported in Part II of Form

D-6

tute statement) that doesn't show pro-

ceeds (sales price).

If there is an amount in box 1b of

Form 2439, include that amount on

line 11 of the Unrecaptured Section

1250 Gain Worksheet if you complete

line 19 of Schedule D.

gain or loss is recognized on the ex-

change of your equity interest in the mu-

tual company for stock. The company

can advise you if the transaction is a

tax-free reorganization. Your holding

period for the new stock includes the pe-

riod you held an equity interest in the

mutual company. If you received cash in

exchange for your equity interest, you

must recognize any capital gain. If you

held the equity interest for more than 1

year, report the gain as a long-term capi-

tal gain in Part II of Form 8949. If you

held the equity interest for 1 year or less,

report the gain as a short-term capital

gain in Part I of Form 8949. Be sure the

appropriate box is checked at the top of

Form 8949.

Gain or Loss From Options

Report on Form 8949 gain or loss from

the closing or expiration of an option

that isn't a section 1256 contract but is a

capital asset in your hands. If an option

you purchased expired, enter the expira-

tion date in column (c) and enter “EX-

PIRED” in column (d). If an option that

was granted (written) expired, enter the

expiration date in column (b) and enter

“EXPIRED” in column (e). Fill in the

other columns according to their instruc-

tions. See Pub. 550 for details.

If there is an amount in box 1c of

Form 2439, see Exclusion of Gain on

Qualified Small Business (QSB) Stock,

later.

If there is an amount in box 1d of

Form 2439, include that amount on

line 4 of the 28% Rate Gain Worksheet

if you complete line 18 of Schedule D.

Include on Schedule 3 (Form 1040),

line 13a, the tax paid as shown in box 2

of Form 2439. Add to the basis of your

stock the excess of the amount included

in income over the amount of the credit

for the tax paid. See Pub. 550 for details.

If a call option you sold after 2013

was exercised, the option premium you

received will be reflected in the pro-

ceeds shown in box 1d of the Form

1099-B (or substitute statement) you re-

ceived. If you sold the call option before

2014, the option premium you received

may not be reflected on Form 1099-B. If

it isn't, enter the premium as a positive

number in column (g) of Form 8949.

Enter “E” in column (f).

If the demutualization transaction

doesn't qualify as a tax-free reorganiza-

tion, you must recognize a capital gain

or loss. If you held the equity interest for

more than 1 year, report the gain or loss

as a long-term capital gain or loss in Part

II of Form 8949. If you held the equity

interest for 1 year or less, report the gain

or loss as a short-term capital gain or

loss in Part I of Form 8949. Be sure the

appropriate box is checked at the top of

Form 8949. Your holding period for the

new stock begins on the day after you

received the stock.

Installment Sales

If you sold property (other than publicly

traded stocks or securities) at a gain and

you will receive a payment in a tax year

after the year of sale, you must generally

report the sale on the installment method

unless you elect not to. Use Form 6252

to report the sale on the installment

method. Also, use Form 6252 to report

any payment received in 2023 from a

sale made in an earlier year that you re-

ported on the installment method.

Example. For $10 in 2013, you sold

Joe an option to buy one share of XYZ

stock for $80. Joe later exercised the op-

tion. The Form 1099-B you get shows

the proceeds to be $80. Enter $80 in col-

umn (d) of Form 8949. Enter “E” in col-

umn (f) and $10 in column (g). Com-

plete the other columns according to the

instructions.

Small Business (Section

1244) Stock

To elect out of the installment meth-

od, report the full amount of the gain on

Form 8949 on a timely filed return (in-

cluding extensions) for the year of the

sale. If your original return was filed on

time, you can make the election on an

amended return filed no later than 6

months after the due date of your return

(excluding extensions). Enter “Filed pur-

suant to section 301.9100-2” at the top

of the amended return.

Report an ordinary loss from the sale,

exchange, or worthlessness of small

business (section 1244) stock on Form

4797. However, if the total loss is more

than the maximum amount that can be

treated as an ordinary loss for the year

($50,000 or, on a joint return, $100,000),

also report the transaction on Form 8949

as follows.

NAV Method for Money

Market Funds

If you have a capital gain or loss deter-

mined under the net asset value (NAV)

method with respect to shares in an NAV

money market fund, report the capital

gain or loss on Form 8949, Part I, with

box C checked. Enter the name of each

fund followed by “(NAV)” in column

(a). Enter the net gain or loss in column

(h). Leave all other columns blank. See

the Instructions for Form 8949.

1. In column (a), enter “Capital por-

tion of section 1244 stock loss.”

Demutualization of Life

Insurance Companies

2. Complete columns (b) and (c) as

you normally would.

Demutualization of a life insurance

company occurs when a mutual life in-

surance company changes to a stock

company. If you were a policyholder or

annuitant of the mutual company, you

may have received either stock in the

stock company or cash in exchange for

your equity interest in the mutual com-

pany.

3. In column (d), enter the entire

sales price of the stock sold.

Undistributed Capital Gains

4. In column (e), enter the entire ba-

sis of the stock sold.

Include on Schedule D, line 11, the

amount from box 1a of Form 2439. This

represents your share of the undistrib-

uted long-term capital gains of the regu-

lated investment company (including a

mutual fund) or real estate investment

trust.

5. Enter “S” in column (f). See the

instructions for Form 8949, columns (f),

(g), and (h).

6. In column (g), enter the loss you

claimed on Form 4797 for this transac-

tion. Enter it as a positive number.

If the demutualization transaction

qualifies as a tax-free reorganization, no

D-7

7. Complete column (h) according

to its instructions.

corporation with total gross assets of

$50 million or less (a) at all times after

August 9, 1993, and before the stock

was issued; and (b) immediately after

the stock was issued. Gross assets in-

clude those of any predecessor of the

corporation. All corporations that are

members of the same parent-subsidiary

controlled group are treated as one cor-

poration.

A business involving the produc-

tion of products for which percentage

depletion can be claimed.

A business of operating a hotel,

motel, restaurant, or similar business.

•

Report the transaction in Part I or

Part II of Form 8949 (depending on how

long you held the stock) with the appro-

priate box checked.

•

For more details about limits and ad-

ditional requirements that may apply,

see Pub. 550 or section 1202.

Example. You sold section 1244

stock for $1,000. Your basis was

$60,000. You had held the stock for 3

years. You can claim $50,000 of your

loss as an ordinary loss on Form 4797.

To claim the rest of the loss on Form

8949, check the appropriate box at the

top. Enter $1,000 on Form 8949, Part II,

column (d). Enter $60,000 in column

(e). Enter “S” in column (f) and $50,000

(the ordinary loss claimed on Form

4797) in column (g). In column (h), en-

Acquisition date of stock acquired af-

ter February 17, 2009. When you are

determining whether your exclusion is

limited to 50%, 75%, or 100% of the

gain from QSB stock, your acquisition

date is considered to be the first day you

held the stock (determined after apply-

ing the holding period rules in section

1223).

4. You must have acquired the stock

at its original issue (either directly or

through an underwriter), either in ex-

change for money or other property

(other than stock) or as pay for services

(other than as an underwriter) to the cor-

poration. In certain cases, you may meet

this test if you acquired the stock from

another person who met the test (such as

by gift or inheritance) or through a con-

version or exchange of QSB stock you

held.

Empowerment Zone Business

Stock

You can generally exclude up to 60% of

your gain from the sale or exchange of

QSB stock held for more than 5 years if

you meet the following additional re-

quirements.

ter ($9,000) ($1,000

−

$60,000

$50,000). Put it in parentheses to show it

is a negative amount.

Exclusion of Gain on

Qualified Small Business

(QSB) Stock

5. During substantially all the time

you held the stock:

a. The corporation was a C corpora-

tion;

1. The stock you sold or exchanged

was stock in a corporation that qualified

as an empowerment zone business dur-

ing substantially all of the time you held

the stock.

Section 1202 allows you to exclude a

portion of the eligible gain on the sale or

exchange of QSB stock. The section

1202 exclusion applies only to QSB

stock held for more than 5 years. If you

acquired the QSB stock on or before

February 17, 2009, you can exclude up

to 50% of the qualified gain. However,

you can exclude up to 60% of the quali-

fied gain on certain empowerment zone

business stock for gain attributable to

periods on or before December 31,

2018. The 60% exclusion doesn’t apply

to gain attributable to periods after De-

cember 31, 2018. See Empowerment

Zone Business Stock, later.

b. At least 80% of the value of the

corporation's assets were used in the ac-

tive conduct of one or more qualified

businesses (defined next); and

c. The corporation wasn't a foreign

corporation, DISC, former DISC, regu-

lated investment company, real estate in-

vestment trust, REMIC, FASIT, or coop-

erative, or a corporation that has made

(or that has a subsidiary that has made) a

section 936 election.

2. You acquired the stock after De-

cember 21, 2000, and before February

18, 2009.

3. The gain from the sale or ex-

change of the stock is attributable to pe-

riods on or before December 31, 2018.

Requirement 1 will still be met if the

corporation ceased to qualify after the

5-year period that began on the date you

acquired the stock. However, the gain

that qualifies for the 60% exclusion can't

be more than the gain you would have

had if you had sold the stock on the date

the corporation ceased to qualify.

SSBIC. A specialized small

business investment company

(SSBIC) is treated as having

TIP

met test 5b.

If you acquired the QSB stock after

February 17, 2009, and before Septem-

ber 28, 2010, you can exclude up to 75%

of the qualified gain.

Definition of qualified business. A

qualified business is any business that

isn't one of the following.

A business involving services per-

•

Stock acquired after February 17,

2009. You can exclude up to 75% of

your gain if you acquired the stock after

February 17, 2009, and before Septem-

ber 28, 2010.

formed in the field of health, law, engi-

neering, architecture, accounting, actua-

rial science, performing arts, consulting,

athletics, financial services, or brokerage

services.

If you acquired the QSB stock after

September 27, 2010, you can exclude up

to 100% of the qualified gain.

To be QSB stock, the stock must

meet all of the following tests.

You can exclude up to 100% of your

gain if you acquired the stock after Sep-

tember 27, 2010.

A business whose principal asset is

the reputation or skill of one or more

employees.

•

1. It must be stock in a C corpora-

tion (that is, not S corporation stock).

More information. For more informa-

tion about empowerment zone business-

es, see section 1397C.

A banking, insurance, financing,

leasing, investing, or similar business.

•

2. It must have been originally is-

sued after August 10, 1993.

A farming business (including the

raising or harvesting of trees).

•

3. As of the date the stock was is-

sued, the corporation was a domestic C

D-8

gain (box 1a) on Schedule D, line 11. In

column (a) of Form 8949, Part II, enter

the name of the corporation whose stock

was sold. In column (f), enter “Q,” and

in column (g), enter the amount of the

excluded gain as a negative number. See

the instructions for Form 8949, columns

(f), (g), and (h). If you are completing

line 18 of Schedule D, enter as a posi-

tive number the amount of your allowa-

ble exclusion on line 2 of the 28% Rate

Gain Worksheet; if you excluded 60% of

you can elect to postpone gain if you

buy other QSB stock during the 60-day

period that began on the date of the sale.

A pass-through entity can also make the

election to postpone gain. The benefit of

the postponed gain applies to your share

of the entity's postponed gain if you held

an interest in the entity for the entire pe-

riod the entity held the QSB stock. If a

pass-through entity sold QSB stock held

for more than 6 months and you held an

interest in the entity for the entire period

the entity held the stock, you can also

elect to postpone gain if you, rather than

the pass-through entity, buy the replace-

ment QSB stock within the 60-day peri-

od. If you were a partner in a partnership

that sold or bought QSB stock, see

box 11 of the Schedule K-1 (Form 1065)

sent to you by the partnership; also, see

Regulations section 1.1045-1.

Pass-Through Entities

If you held an interest in a pass-through

entity (a partnership, S corporation,

common trust fund, or mutual fund or

other regulated investment company)

that sold QSB stock, to qualify for the

exclusion you must have held the inter-

est on the date the pass-through entity

acquired the QSB stock and at all times

thereafter until the stock was sold.

How To Report

the gain, enter /3 of the exclusion; if

Report the sale or exchange of the QSB

stock on Form 8949, Part II, with the ap-

propriate box checked, as you would if

you weren't taking the exclusion. Then

enter “Q” in column (f) and enter the

amount of the excluded gain as a nega-

tive number in column (g). Put it in pa-

rentheses to show it is negative. See the

instructions for Form 8949, columns (f),

(g), and (h). Complete all remaining col-

umns. If you are completing line 18 of

Schedule D, enter as a positive number

the amount of your allowable exclusion

on line 2 of the 28% Rate Gain Work-

sheet; if you excluded 60% of the gain,

you excluded 75% of the gain, enter /3

of the exclusion; if you excluded 100%

of the gain, don't enter an amount.

Gain from an installment sale of QSB

stock. If all payments aren't received in

the year of sale, a sale of QSB stock that

isn't traded on an established securities

market is generally treated as an install-

ment sale and is reported on Form 6252.

Report the long-term gain from Form

6252 on Schedule D, line 11. Figure the

allowable section 1202 exclusion for the

year by multiplying the total amount of

the exclusion by a fraction, the numera-

tor of which is the amount of eligible

gain to be recognized for the tax year

and the denominator of which is the to-

tal amount of eligible gain. In column

(a) of Form 8949, Part II, enter the name

of the corporation whose stock was sold.

In column (f), enter “Q,” and in column

(g), enter the amount of the allowable

exclusion for the year as a negative

number. See the instructions for Form

8949, columns (f), (g), and (h). If you

are completing line 18 of Schedule D,

enter as a positive number the amount of

your allowable exclusion for the year on

line 2 of the 28% Rate Gain Worksheet;

if you excluded 60% of the gain, enter

²/3 of the allowable exclusion for the

year; if you excluded 75% of the gain,

You must recognize gain to the extent

the sale proceeds are more than the cost

of the replacement stock. Reduce the ba-

sis of the replacement stock by any post-

poned gain.

You must make the election no later

than the due date (including extensions)

for filing your tax return for the tax year

in which the QSB stock was sold. If

your original return was filed on time,

you can make the election on an amen-

ded return filed no later than 6 months

after the due date of your return (exclud-

ing extensions). Enter “Filed pursuant to

section 301.9100-2” at the top of the

amended return.

enter /3 of the exclusion; if you exclu-

ded 75% of the gain, enter /3 of the ex-

clusion; if you excluded 100% of the

gain, don't enter an amount.

Gain from Form 1099-DIV. If you re-

ceived a Form 1099-DIV with a gain in

box 2c, part or all of that gain (which is

also included in box 2a) may be eligible

for the section 1202 exclusion. Report

the total gain (box 2a) on Schedule D,

line 13. In column (a) of Form 8949,

Part II, enter the name of the corporation

whose stock was sold. In column (f), en-

ter “Q,” and in column (g), enter the

amount of the excluded gain as a nega-

tive number. See the instructions for

Form 8949, columns (f), (g), and (h). If

you are completing line 18 of Sched-

ule D, enter as a positive number the

amount of your allowable exclusion on

line 2 of the 28% Rate Gain Worksheet;

if you excluded 60% of the gain, enter

²/3 of the exclusion; if you excluded

To make the election, report the sale

in Part I or Part II (depending on how

long you, or the pass-through entity, if

applicable, owned the stock) of Form

8949 as you would if you weren't mak-

ing the election. Then enter “R” in col-

umn (f). Enter the amount of the post-

poned gain as a negative number in col-

umn (g). Put it in parentheses to show it

is negative. See the instructions for

Form 8949, columns (f), (g), and (h).

Complete all remaining columns.

enter /3 of the allowable exclusion for

the year; if you excluded 100% of the

gain, don't enter an amount.

Alternative minimum tax. If you qual-

ify for the 50%, 60%, or 75% exclusion,

enter 7% of your allowable exclusion for

the year on line 13 of Form 6251. If you

qualify for the 100% exclusion, leave

line 13 of Form 6251 blank.

75% of the gain, enter /3 of the exclu-

Exclusion of Gain From DC

Zone Assets

If you sold or exchanged a District of

Columbia Enterprise Zone (DC Zone)

asset that you acquired after 1997 and

before 2012 and held for more than 5

years, you may be able to exclude the

amount of qualified capital gain that you

sion; if you excluded 100% of the gain,

don't enter an amount.

Gain from Form 2439. If you received

a Form 2439 with a gain in box 1c, part

or all of that gain (which is also included

in box 1a) may be eligible for the sec-

tion 1202 exclusion. Report the total

Rollover of Gain From QSB

Stock

If you sold QSB stock (defined earlier)

that you held for more than 6 months,

D-9

would otherwise include in income. The

exclusion applies to an interest in, or

property of, certain businesses operating

in the District of Columbia.

during the 180-day period beginning on

the date the gain was realized. You may

also be able to permanently exclude the

gain from the sale or exchange of any

investment in a QOF if the investment is

held for at least 10 years.

Qualified community asset. A quali-

fied community asset is any of the fol-

lowing.

Qualified community stock.

Qualified community partnership

•

DC Zone asset. A DC Zone asset is any

of the following.

•

interest.

DC Zone business stock.

DC Zone partnership interest.

DC Zone business property.

Qualified community business

property.

•

If you elect to defer tax on an

eligible gain by investing in a

QOF, you will need to complete

•

CAUTION

•

Qualified capital gain. Qualified capi-

tal gain is any gain recognized on the

sale or exchange of a qualified commun-

ity asset but doesn't include any of the

following.

Gain attributable to periods after

December 31, 2014.

Gain treated as ordinary income

under section 1245.

a Form 8997 for each year you hold the

investment and for the year you dispose

of the investment. If you have held that

investment for more than 5 years, see

the instructions for Form 8997 for addi-

tional information regarding the basis of

that investment.

Qualified capital gain. Qualified capi-

tal gain is any gain recognized on the

sale or exchange of a DC Zone asset that

is a capital asset or property used in a

trade or business. It doesn't include any

of the following gains.

Gain attributable to periods after

December 31, 2016.

Gain treated as ordinary income

under section 1245.

Section 1250 gain figured as if

section 1250 applied to all depreciation

rather than the additional depreciation.

Gain attributable to real property,

or an intangible asset, that isn't an inte-

gral part of a DC Zone business.

•

QOF. A QOF is any investment vehicle

that is organized as either a corporation

or partnership for the purpose of invest-

ing in eligible property that is located in

a qualified opportunity zone.

Section 1250 gain figured as if

section 1250 applied to all depreciation

rather than the additional depreciation.

•

Gain attributable to real property,

•

or an intangible asset, that isn't an inte-

gral part of a renewal community busi-

ness.

How to report. Report the eligible gain

as you normally would on Schedule D.

See the Form 8949 instructions for how

to report the deferral. See the Form 8997

instructions for additional reporting in-

structions.

•

Gain from a related-party transac-

•

Gain from a related-party transac-

tion. See Sales and Exchanges Between

Related Persons in chapter 2 of Pub.

544.

•

tion. See Sales and Exchanges Between

Related Persons in chapter 2 of Pub.

544.

How to report. Report the sale or ex-

change of qualified community stock or

a qualified community partnership inter-

est on Form 8949, Part II, with the ap-

propriate box checked, as you would if

you weren't taking the exclusion. Then

enter “X” in column (f) and enter the

amount of the exclusion as a negative

number in column (g). Put it in paren-

theses to show it is negative. See the in-

structions for Form 8949, columns (f),

(g), and (h). Complete all remaining col-

umns.

Rollover of Gain From Stock

Sold to ESOPs or Certain

Cooperatives

You can postpone all or part of any gain

from the sale of qualified securities, held

for at least 3 years, to an employee stock

ownership plan (ESOP) or eligible

worker-owned cooperative, if you buy

qualified replacement property. See Pub.

550. Also, see the instructions for Form

8949, columns (f), (g), and (h).

How to report. Report the sale or ex-

change of DC Zone business stock or a

DC Zone partnership interest on Form

8949, Part II, as you would if you

weren't taking the exclusion. Then enter

“X” in column (f). Enter the amount of

the exclusion as a negative number in

column (g). Put it in parentheses to show

it is negative. See the instructions for

Form 8949, columns (f), (g), and (h).

Complete all remaining columns.

Report the sale or exchange of DC

Zone business property on Form 4797.

See the Form 4797 instructions for de-

tails.

Report the sale or exchange of quali-

fied community business property on

Form 4797. See the Form 4797 instruc-

tions for details.

Specific

Instructions

Exclusion of Gain From

Qualified Community Assets

Deferral of Gain Invested in

a QOF

Rounding Off to Whole

Dollars

If you sold or exchanged a qualified

community asset that you acquired after

2001 and before 2010 and held for more

than 5 years, you may be able to exclude

the qualified capital gain that you would

otherwise include in income. The exclu-

sion applies to an interest in, or property

of, certain renewal community business-

es.

If you have an eligible gain, you can in-

vest that gain in a QOF and elect to de-

fer part or all of the gain that you would

otherwise include in income until you

sell or exchange the investment in the

QOF or December 31, 2026, whichever

is earlier. If you make the election, you

only include gain to the extent, if any,

the amount of realized gain is more than

the aggregate amount invested in a QOF

You can round off cents to whole dollars

on your Schedule D. If you do round to

whole dollars, you must round all

amounts. To round, drop amounts under

50 cents and increase amounts from 50

to 99 cents to the next dollar. For exam-

ple, $1.39 becomes $1 and $2.50 be-

comes $3.

If you have to add two or more

amounts to figure the amount to enter on

D-10

Capital Loss Carryover Worksheet—Lines 6 and 14

Keep for Your Records

Use this worksheet to figure your capital loss carryovers from 2022 to 2023 if your 2022 Schedule D, line 21, is a loss and (a) that loss is a smaller loss

than the loss on your 2022 Schedule D, line 16; or (b) if the amount on your 2022 Form 1040 or 1040-SR, line 15, (or your 2022 Form 1040-NR,

line 15, if applicable) would be less than zero if you could enter a negative amount on that line. Otherwise, you don't have any carryovers.

If you and your spouse once filed a joint return and are filing separate returns for 2023, any capital loss carryover from the joint return can be deducted

only on the return of the spouse who actually had the loss.

If you excluded canceled debt from income in 2023, see Pub. 4681.

1. Enter the amount from your 2022 Form 1040 or 1040-SR, line 15; or your 2022 Form 1040-NR, line 15. If

the amount would have been a loss if you could enter a negative number on that line, enclose the amount in

parentheses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2. Enter the loss from your 2022 Schedule D, line 21, as a positive amount . . . . . . . . . . . . . . . . . . . . . . . . . .

3. Combine lines 1 and 2. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4. Enter the smaller of line 2 or line 3 . . . . . . . . . . . . . . . . . . . . . .

If line 7 of your 2022 Schedule D is a loss, go to line 5; otherwise, enter -0- on line 5 and go to line 9.

5. Enter the loss from your 2022 Schedule D, line 7, as a positive amount . . . . . . . . . . . . . . . . . . . . . . . . . .

6. Enter any gain from your 2022 Schedule D, line 15. If a loss,

enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7. Add lines 4 and 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8. Short-term capital loss carryover for 2023. Subtract line 7 from line 5. If zero or less, enter -0-. If more

than zero, also enter this amount on Schedule D, line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If line 15 of your 2022 Schedule D is a loss, go to line 9; otherwise, skip lines 9 through 13.

9. Enter the loss from your 2022 Schedule D, line 15, as a positive amount . . . . . . . . . . . . . . . . . . . . . . . . . .

10. Enter any gain from your 2022 Schedule D, line 7. If a loss,

enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10.

11.

11. Subtract line 5 from line 4. If zero or less, enter -0- . . . . . . . . . . .

12. Add lines 10 and 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12.

13.

13. Long-term capital loss carryover for 2023. Subtract line 12 from line 9. If zero or less, enter -0-. If more

than zero, also enter this amount on Schedule D, line 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

a line, include cents when adding the

amounts and round off only the total.

The Ordinary box in box 2 isn’t

checked;

The QOF box in box 3 isn’t

from the proceeds (sales price) in col-

umn (d). Enter the gain or loss in col-

umn (h). Enter negative amounts in pa-

rentheses.

•

checked;

Disposal of QOF investment. If you

disposed of any investment in a QOF

during the tax year, check the box on

page 1 of Schedule D and see the In-

structions for Form 8949 for additional

reporting requirements. You must also

complete Part III of Form 8997. See the

instructions for Form 8997 for details.

You aren’t electing to defer income

•

Example 1—basis reported to the

IRS. You received a Form 1099-B re-

porting the sale of stock you held for 3

years. It shows proceeds (in box 1d) of

$6,000 and cost or other basis (in

box 1e) of $2,000. Box 3 is checked,

meaning that basis was reported to the

IRS. You don't need to make any adjust-

ments to the amounts reported on Form

1099-B or enter any codes. This was

your only 2023 transaction. Instead of

reporting this transaction on Form 8949,

you can enter $6,000 on Schedule D,

line 8a, column (d); $2,000 in column

(e); and $4,000 ($6,000 − $2,000) in col-

umn (h).

due to an investment in a QOF and

aren’t terminating deferral from an in-

vestment in a QOF; and

You don't need to make any adjust-

•

ments to the basis or type of gain or loss

reported on Form 1099-B (or substitute

statement), or to your gain or loss.

See How To Complete Form 8949, Col-

umns (f) and (g) in the Form 8949 in-

structions for details about possible ad-

justments to your gain or loss.

Lines 1a and 8a—

Transactions Not Reported

on Form 8949

You can report on line 1a (for short-term

transactions) or line 8a (for long-term

transactions) the aggregate totals from

any transactions (except sales of collec-

tibles) for which:

If you choose to report these transac-

tions on lines 1a and 8a, don't report

them on Form 8949. You don't need to

attach a statement to explain the entries

on lines 1a and 8a and, if you e-file your

return, you don't need to file Form 8453.

You received a Form 1099-B (or

•

If you had a second transaction that

was the same except that the proceeds

were $5,000 and the basis was $3,000,

combine the two transactions. Enter

substitute statement) that shows basis

was reported to the IRS and doesn't

show any adjustments in box 1f or 1g;

Figure gain or loss on each line. Sub-

tract the cost or other basis in column (e)

D-11

$11,000 ($6,000 + $5,000) on Sched-

ule D, line 8a, column (d); $5,000

($2,000 + $3,000) in column (e); and

$6,000 ($11,000 − $5,000) in column

(h).

sion of Gain on Qualified Small Busi-

ness (QSB) Stock, earlier).

Lines 1b, 2, 3, 8b, 9, and 10,

Column (h)—Transactions

Reported on Form 8949

Figure gain or loss on each line. First,

subtract the cost or other basis in col-

umn (e) from the proceeds (sales price)

in column (d). Then combine the result

with any adjustments in column (g). En-

ter the gain or loss in column (h). Enter

negative amounts in parentheses.

You reported in Part II of Form

•

8949 a collectibles gain or (loss). A col-

lectibles gain or (loss) is any long-term

gain or deductible long-term loss from

the sale or exchange of a collectible that

is a capital asset.

Example 2—basis not reported to

the IRS. You received a Form 1099-B

showing proceeds (in box 1d) of $6,000

and cost or other basis (in box 1e) of

$2,000. Box 3 isn't checked, meaning

that basis wasn't reported to the IRS.

Don't report this transaction on line 1a

or line 8a. Instead, report the transaction

on Form 8949. Complete all necessary

pages of Form 8949 before completing

line 1b, 2, 3, 8b, 9, or 10 of Schedule D.

Collectibles include works of art,

rugs, antiques, metals (such as gold, sil-

ver, and platinum bullion), gems,

stamps, coins, alcoholic beverages, and

certain other tangible property.

Example 1—gain. Column (d) is

$6,000 and column (e) is $2,000. Enter

$4,000 in column (h).

Include on the worksheet any gain

(but not loss) from the sale or exchange

of an interest in a partnership, S corpora-

tion, or trust held for more than 1 year

and attributable to unrealized apprecia-

tion of collectibles. For details, see Reg-

ulations section 1.1(h)-1. Also, attach

the statement required under Regula-

tions section 1.1(h)-1(e).

Example 2—loss. Column (d) is

$6,000 and column (e) is $8,000. Enter

($2,000) in column (h).

Example 3—adjustment. You re-

ceived a Form 1099-B showing pro-

ceeds (in box 1d) of $6,000 and cost or

other basis (in box 1e) of $2,000. Box 3

is checked, meaning that basis was re-

ported to the IRS. However, the basis

shown in box 1e is incorrect. Don't re-

port this transaction on line 1a or

line 8a. Instead, report the transaction on

Form 8949. See the instructions for

Form 8949, columns (f), (g), and (h).

Complete all necessary pages of Form

8949 before completing line 1b, 2, 3, 8b,

9, or 10 of Schedule D.

Example

3—adjustment. Column

(d) is $6,000, column (e) is $2,000, and

column (g) is ($1,000). Enter $3,000

($6,000 − $2,000 − $1,000) in column

(h).

Line 19

Line 13

See Capital Gain Distributions, earlier.

If you checked “Yes” on line 17, com-

plete the Unrecaptured Section 1250

Gain Worksheet in these instructions if

any of the following apply for 2023.

Line 18

If you checked “Yes” on line 17, com-

plete the 28% Rate Gain Worksheet in

these instructions if either of the follow-

ing applies for 2023.

You sold or otherwise disposed of

•

section 1250 property (generally, real

property that you depreciated) held more

than 1 year.

You reported in Part II of Form

8949 a section 1202 exclusion from the

•

You received installment payments

for section 1250 property held more than

•

eligible gain on QSB stock (see Exclu-

28% Rate Gain Worksheet—Line 18

Keep for Your Records

1. Enter the total of all collectibles gain or (loss) from items you reported on Form 8949, Part II . . . . . . . . . . . . . . . . . . . . . . .

2. Enter as a positive number the total of:

Any section 1202 exclusion you reported in column (g) of Form 8949, Part II, with

•

code “Q” in column (f), that is 50% of the gain;

²/3 of any section 1202 exclusion you reported in column (g) of Form 8949, Part II,

•

. . . . . . . . . . . . . . . . . . . . . . 2.

with code “Q” in column (f), that is 60% of the gain; and

¹/3 of any section 1202 exclusion you reported in column (g) of Form 8949, Part II,

•

with code “Q” in column (f), that is 75% of the gain.

Don’t make an entry for any section 1202 exclusion that is 100% of the gain.

3. Enter the total of all collectibles gain or (loss) from Form 4684, line 4 (but only if Form 4684, line 15, is more than zero); Form

6252; Form 6781, Part II; and Form 8824 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.

4. Enter the total of any collectibles gain reported to you on:

Form 1099-DIV, box 2d;

Form 2439, box 1d; and

Schedule K-1 from a partnership, S corporation, estate, or trust.

•

. . . . . . . . . . . . . . . . . . . . 4.

•

5. Enter your long-term capital loss carryovers from Schedule D, line 14; and Schedule K-1 (Form 1041),

(

)

box 11, code D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6. If Schedule D, line 7, is a (loss), enter that (loss) here. Otherwise, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7. Combine lines 1 through 6. If zero or less, enter -0-. If more than zero, also enter this amount on

Schedule D, line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.

D-12

1 year for which you are reporting gain

on the installment method.

installment sale of trade or business

property held more than 1 year.

has been used in full. Figure the amount

of gain treated as unrecaptured section

1250 gain for installment payments re-

ceived in 2023 as the smaller of (a) the

amount from line 26 or line 37 of your

2023 Form 6252, whichever applies; or

(b) the amount of unrecaptured section

1250 gain remaining to be reported. This

amount is generally the total unrecap-

tured section 1250 gain for the sale re-

duced by all gain reported in prior years

(excluding section 1250 ordinary in-

come recapture). However, if you chose

not to treat all of the gain from payments

received after May 6, 1997, and before

August 24, 1999, as unrecaptured sec-

tion 1250 gain, use only the amount you

chose to treat as unrecaptured section

1250 gain for those payments to reduce

the total unrecaptured section 1250 gain

remaining to be reported for the sale. In-

clude this amount on line 4.

You received a Schedule K-1 from

•

Step 1. Figure the smaller of (a) the

depreciation allowed or allowable, or (b)

the total gain for the sale. This is the

smaller of line 22 or line 24 of your

2023 Form 4797 (or the comparable

lines of Form 4797 for the year of sale)

for the property.

an estate or trust, a partnership, or an S

corporation that shows “unrecaptured

section 1250 gain.”

You received a Form 1099-DIV or

•

Form 2439 from a real estate investment

trust or regulated investment company

(including a mutual fund) that reports

“unrecaptured section 1250 gain.”

Step 2. Reduce the amount figured in

Step 1 by any section 1250 ordinary in-

come recapture for the sale. This is the

amount from line 26g of your 2023

Form 4797 (or the comparable line of

Form 4797 for the year of sale) for the

property. The result is your total unrec-

aptured section 1250 gain that must be

allocated to the installment payments re-

ceived from the sale.

You reported a long-term capital

•

gain from the sale or exchange of an in-

terest in a partnership that owned section

1250 property.

Instructions for the Unrecaptured

Section 1250 Gain Worksheet

Lines 1 through 3. If you had more

than one property described on line 1,

complete lines 1 through 3 for each

property on a separate worksheet. Enter

the total of the line 3 amounts for all

properties on line 3 and go to line 4.

Step 3. Generally, the entire amount

of gain from the sale of trade or business

property included in each installment

payment is treated as unrecaptured sec-

tion 1250 gain until the total unrecap-

tured section 1250 gain figured in Step 2

Line 4. To figure the amount to enter on

line 4, follow the steps below for each

D-13

Unrecaptured Section 1250 Gain Worksheet—Line 19

Keep for Your Records

If you aren't reporting a gain on Form 4797, line 7, skip lines 1 through 9 and go to line 10.

1. If you have a section 1250 property in Part III of Form 4797 for which you made an entry in Part I of Form 4797 (but

not on Form 6252), enter the smaller of line 22 or line 24 of Form 4797 for that property. If you didn't have any such

property, go to line 4. If you had more than one such property, see instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.

2. Enter the amount from Form 4797, line 26g, for the property for which you made an entry on line 1 . . . . . . . . . . . . .

3. Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4. Enter the total unrecaptured section 1250 gain included on line 26 or line 37 of Form(s) 6252 from installment sales

of trade or business property held more than 1 year. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.

5. Enter the total of any amounts reported to you on a Schedule K-1 from a partnership or an S corporation as

“unrecaptured section 1250 gain” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.

6. Add lines 3 through 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7. Enter the smaller of line 6 or the gain from Form 4797, line 7 . . . . . . . . . . . . . . . . . . . . .

8. Enter the amount, if any, from Form 4797, line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9. Subtract line 8 from line 7. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10. Enter the amount of any gain from the sale or exchange of an interest in a partnership attributable to unrecaptured

section 1250 gain. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.

11. Enter the total of any amounts reported to you as “unrecaptured section 1250 gain” on a Schedule K-1, Form

1099-DIV, or Form 2439 from an estate, a trust, a real estate investment trust, or a mutual fund (or other regulated

investment company) or in connection with a Form 1099-R . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.

12. Enter the total of any unrecaptured section 1250 gain from sales (including installment sales) or other dispositions of

section 1250 property held more than 1 year for which you didn't make an entry in Part I of Form 4797 for the year of

sale. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.

13. Add lines 9 through 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13.

14. If you had any section 1202 gain or collectibles gain or (loss), enter the total of lines 1

through 4 of the 28% Rate Gain Worksheet. Otherwise, enter -0- . . . . . . . . . . . . . . . . . 14.

15. Enter the (loss), if any, from Schedule D, line 7. If Schedule D, line 7, is zero or a gain,

(

)

enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.

16. Enter your long-term capital loss carryovers from Schedule D, line 14; and Schedule K-1

(Form 1041), box 11, code D* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.

17. Combine lines 14 through 16. If the result is a (loss), enter it as a positive amount. If the result is zero or a gain,

enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.

18. Unrecaptured section 1250 gain. Subtract line 17 from line 13. If zero or less, enter -0-. If more than zero, enter the

result here and on Schedule D, line 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.

* If you are filing Form 2555 (relating to foreign earned income), see the footnote in the Foreign Earned Income Tax

Worksheet in the Instructions for Form 1040 before completing this line.

Installment sales. To figure the

amount to include on line 12, follow the

steps below for each installment sale of

property held more than 1 year for

which you didn't make an entry in Part I

of your Form 4797 for the year of sale.

is treated as unrecaptured section 1250

Line 10. Include on line 10 your share

of the partnership's unrecaptured section

1250 gain that would result if the part-

nership had transferred all of its section

1250 property in a fully taxable transac-

tion immediately before you sold or ex-

changed your interest in that partnership.

If you recognized less than all of the re-

alized gain, the partnership will be trea-

ted as having transferred only a propor-

tionate amount of each section 1250

property. For details, see Regulations

section 1.1(h)-1. Also, attach the state-

ment required under Regulations

gain until the total unrecaptured section

1250 gain figured in Step 2 has been

used in full. Figure the amount of gain

treated as unrecaptured section 1250

gain for installment payments received

in 2023 as the smaller of (a) the amount

from line 26 or line 37 of your 2023

Form 6252, whichever applies; or (b)

the amount of unrecaptured section 1250

gain remaining to be reported. This

amount is generally the total unrecap-

tured section 1250 gain for the sale re-

duced by all gain reported in prior years

(excluding section 1250 ordinary in-

come recapture). However, if you chose

not to treat all of the gain from payments

received after May 6, 1997, and before

August 24, 1999, as unrecaptured sec-

tion 1250 gain, use only the amount you

chose to treat as unrecaptured section

1250 gain for those payments to reduce

the total unrecaptured section 1250 gain

remaining to be reported for the sale. In-

clude this amount on line 12.

Step 1. Figure the smaller of (a)

•

the depreciation allowed or allowable, or

(b) the total gain for the sale. This is the

smaller of line 22 or line 24 of your

2023 Form 4797 (or the comparable

lines of Form 4797 for the year of sale)

for the property.

Step 2. Reduce the amount figured

•

in Step 1 by any section 1250 ordinary

income recapture for the sale. This is the

amount from line 26g of your 2023

Form 4797 (or the comparable line of

Form 4797 for the year of sale) for the

property. The result is your total unrec-

aptured section 1250 gain that must be

allocated to the installment payments re-

ceived from the sale.

section 1.1(h)-1(e).

Line 12. An example of an amount to

include on line 12 is unrecaptured sec-

tion 1250 gain from the sale of a vaca-

tion home you previously used as a rent-

al property but converted to personal use

prior to the sale. To figure the amount to

enter on line 12, follow the applicable

instructions below.

Step 3. Generally, the amount of

capital gain on each installment payment

•

D-14

Other sales or dispositions of section

1250 property. For each sale of proper-

ty held more than 1 year (for which you

didn't make an entry in Part I of Form

4797), figure the smaller of (a) the de-

preciation allowed or allowable, or (b)

the total gain for the sale. This is the

smaller of line 22 or line 24 of Form

4797 for the property. Next, reduce that

amount by any section 1250 ordinary in-

come recapture for the sale. This is the

amount from line 26g of Form 4797 for

the property. The result is the total un-

recaptured section 1250 gain for the

sale. Include this amount on line 12.

zero if you could enter a negative

amount on that line.

To figure any capital loss carryover

to 2024, you will use the Capital Loss

Carryover Worksheet in the 2024 In-

structions for Schedule D. If you want to

figure your carryover to 2024 now, see

Pub. 550.

Line 21

You have a capital loss carryover from

2023 to 2024 if you have a loss on

line 16 and either:

That loss is more than the loss on

line 2; or

•

The amount on Form 1040 or

1040-SR, line 15, (or Form 1040-NR,

line 15, if applicable) would be less than

You will need a copy of your

•

2023 Form 1040 or 1040-SR

and Schedule D to figure your

TIP

capital loss carryover to 2024.

D-15

Schedule D Tax Worksheet

Keep for Your Records

Complete this worksheet only if line 18 or line 19 of Schedule D is more than zero and lines 15 and 16 of Schedule D are gains or

if you file Form 4952 and you have an amount on line 4g, even if you don’t need to file Schedule D. Otherwise, complete the

Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040, line 16, (or in the instructions for Form

1040-NR, line 16) to figure your tax. Before completing this worksheet, complete Form 1040, 1040-SR, or 1040-NR through

line 15.

Exception: Don’t use the Qualified Dividends and Capital Gain Tax Worksheet or this worksheet to figure your tax if:

Line 15 or line 16 of Schedule D is zero or less and you have no qualified dividends on Form 1040, 1040-SR, or 1040-NR, line 3a;

•

Form 1040, 1040-SR, or 1040-NR, line 15, is zero or less.

Instead, see the instructions for Form 1040, line 16 (or Form 1040-NR, line 16).

1. Enter your taxable income from Form 1040, 1040-SR, or 1040-NR, line 15. (However, if you are filing Form

2555 (relating to foreign earned income), enter instead the amount from line 3 of the Foreign Earned Income

Tax Worksheet in the instructions for Form 1040, line 16.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.

2. Enter your qualified dividends from Form 1040,

1040-SR, or 1040-NR, line 3a . . . . . . . . . . . . . . . . . 2.

3. Enter the amount from Form 4952

(used to figure investment interest

expense deduction), line 4g . . . . . . . 3.

4. Enter the amount from Form 4952,

line 4e* . . . . . . . . . . . . . . . . . . . . . . . 4.

5. Subtract line 4 from line 3. If zero or less,

enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.

6. Subtract line 5 from line 2. If zero or less, enter -0-** . . . . . . . . . . . . . . .

7. Enter the smaller of line 15 or line 16

of Schedule D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.

8. Enter the smaller of line 3 or line 4 . . . . . . . . . . . .

9. Subtract line 8 from line 7. If zero or less, enter -0-** . . . . . . . . . . . . . . .

10. Add lines 6 and 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10.

12.

11. Add lines 18 and 19 of Schedule D** . . . . . . . . . . . . . . . . . . . . . . . . . . .

11.

12. Enter the smaller of line 9 or line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13. Subtract line 12 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14. Subtract line 13 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15. Enter:

13.

14.

• $44,625 if single or married filing

separately;

• $89,250 if married filing jointly or

qualifying surviving spouse; or

• $59,750 if head of household.

. . . . . . . . . . . . . . 15.

16. Enter the smaller of line 1 or line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.

17. Enter the smaller of line 14 or line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . .

17.

18. Subtract line 10 from line 1. If zero or less,

enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.

19. Enter the smaller of line 1 or:

$182,100 if single or married filing

•

separately;

$364,200 if married filing jointly or

. . . . .19.

qualifying surviving spouse; or

$182,100 if head of household.

20. Enter the smaller of line 14 or line 19 . . . . . . . . . . .

20.

21. Enter the larger of line 18 or line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

21.

22.

22. Subtract line 17 from line 16. This amount is taxed at 0% . . . . . . . . . . . . . . . . . . . . . . . . . .

If lines 1 and 16 are the same, skip lines 23 through 43 and go to line 44. Otherwise, go to line 23.

23. Enter the smaller of line 1 or line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . .

24. Enter the amount from line 22. (If line 22 is blank, enter -0-.) . . . . . . . . .

25. Subtract line 24 from line 23. If zero or less, enter -0- . . . . . . . . . . . . . . .

26. Enter:

23.

24.

25.

• $492,300 if single;

• $276,900 if married filing separately;

• $553,850 if married filing jointly or

qualifying surviving spouse; or

• $523,050 if head of household.

. . . . . . . . . . . . . . 26.

27. Enter the smaller of line 1 or line 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . .

28. Add lines 21 and 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

29. Subtract line 28 from line 27. If zero or less, enter -0- . . . . . . . . . . . . . . .

30. Enter the smaller of line 25 or line 29 . . . . . . . . . . . . . . . . . . . . . . . . . . .

27.

28.

29.

30.

D-16

Keep for Your Records

Schedule D Tax Worksheet—Continued

31. Multiply line 30 by 15% (0.15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 .

32. Add lines 24 and 30 . . . . . . . . 32.

If lines 1 and 32 are the same, skip lines 33 through 43 and go to line 44. Otherwise, go to line 33.

33. Subtract line 32 from line 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

33.

34. Multiply line 33 by 20% (0.20) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

34.

If Schedule D, line 19, is zero or blank, skip lines 35 through 40 and go to line 41. Otherwise, go to line 35.

35. Enter the smaller of line 9 above or Schedule D, line 19 . . . . . . . . . . .

35.

36. Add lines 10 and 21 . . . . . . . . . . . . . . . . . . . . . . .

37. Enter the amount from line 1 above . . . . . . . . . . .

36.

37.

38. Subtract line 37 from line 36. If zero or less, enter -0- . . . . . . . . . . . . .

38.

39. Subtract line 38 from line 35. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . .

39.

40. Multiply line 39 by 25% (0.25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If Schedule D, line 18, is zero or blank, skip lines 41 through 43 and go to line 44. Otherwise, go to line 41.

40.

41. Add lines 21, 22, 30, 33, and 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

42. Subtract line 41 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

41.

42.

43. Multiply line 42 by 28% (0.28) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

43.

44. Figure the tax on the amount on line 21. If the amount on line 21 is less than $100,000, use the Tax Table to

figure the tax. If the amount on line 21 is $100,000 or more, use the Tax Computation Worksheet . . . . . . . . 44.

45. Add lines 31, 34, 40, 43, and 44 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

45.

46. Figure the tax on the amount on line 1. If the amount on line 1 is less than $100,000, use the Tax Table to

figure the tax. If the amount on line 1 is $100,000 or more, use the Tax Computation Worksheet . . . . . . . . . 46.

47. Tax on all taxable income (including capital gains and qualified dividends). Enter the smaller of line 45

or line 46. Also, include this amount on Form 1040, 1040-SR, or 1040-NR, line 16. (If you are filing Form

2555, don't enter this amount on Form 1040 or 1040-SR, line 16. Instead, enter it on line 4 of the Foreign

Earned Income Tax Worksheet in the Instructions for Form 1040.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47.

* If applicable, enter instead the smaller amount you entered on the dotted line next to line 4e of Form 4952.

** If you are filing Form 2555, see the footnote in the Foreign Earned Income Tax Worksheet in the

instructions for Form 1040, line 16, before completing this line.

D-17

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