Fill out Schedule D (Capital Gains and Losses) online
Schedule D reports the overall gain or loss from the sale or exchange of capital assets such as stocks, bonds, mutual funds, and real estate. It separates transactions into short-term (held one year or less) and long-term (held more than one year), which are taxed at different rates.
How to fill out Schedule D (Capital Gains and Losses)
Report short-term capital gains and losses (Part I)
Enter totals from Form 8949 for assets held one year or less. Include short-term gains/losses from 1099-B forms and short-term capital gain distributions.
Report long-term capital gains and losses (Part II)
Enter totals from Form 8949 for assets held more than one year. Include long-term gains/losses from 1099-B forms, capital gain distributions from mutual funds, and any gain from Form 4797 (business property).
Calculate net gain or loss (Part III)
Combine the short-term and long-term totals. If you have a net loss, the deductible amount is limited to $3,000 ($1,500 if married filing separately). Any excess carries forward to future years.
Use the tax worksheet
If you have a net long-term capital gain, use the Qualified Dividends and Capital Gain Tax Worksheet (in the Form 1040 instructions) to calculate tax at the preferential rates: 0%, 15%, or 20% depending on your taxable income.
About Schedule D (Capital Gains and Losses)
Who needs this form
Anyone who sold or exchanged stocks, bonds, mutual funds, real estate, or other capital assets during the tax year. Also required if you received capital gain distributions from mutual funds or have a carryover capital loss from a prior year.
Where to submit
Attach Schedule D to your Form 1040. Individual transactions are reported on Form 8949 before being summarized on Schedule D. The net gain or loss transfers to Form 1040, line 7.
Source and content freshness
- Reviewed: 2026-02-16
- Check the latest official form instructions for the filing year that applies to you.
- Filing deadlines may shift for weekends and holidays. Verify due dates with official instructions.
Common mistakes to avoid
- Not reporting all transactions (brokers report them to the IRS on 1099-B)
- Using the wrong cost basis, especially for shares acquired at different times
- Confusing short-term and long-term holding periods (the rate difference is significant)
- Not carrying forward capital losses that exceed the $3,000 annual deduction limit
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What is the difference between short-term and long-term capital gains?
Short-term capital gains (assets held one year or less) are taxed at your ordinary income tax rates, which can be as high as 37%. Long-term capital gains (assets held more than one year) are taxed at preferential rates: 0%, 15%, or 20% depending on your taxable income. This makes the holding period a significant factor in your tax bill.
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