Understanding IRS Schedule D: Capital Gains and Losses

Schedule D is used to report sales and exchanges of capital assets like stocks, bonds, and real estate.

When to Use Schedule D?
  • If you sold investments or property during the tax year
  • To calculate capital gains tax owed or capital losses to deduct
Key Points
  • Short-term vs. long-term gains have different tax rates
  • Losses can offset gains and reduce taxable income
  • Keep detailed records of purchase/sale dates and prices
Related Forms
  • Form 8949: Sales and Other Dispositions of Capital Assets
  • Form 1099-B
  • Form 1040

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