Form PA-41 Schedule D "Sale, Exchange or Disposition of Property" - Pennsylvania

What Is Form PA-41 Schedule D?

This is a legal form that was released by the Pennsylvania Department of Revenue - a government authority operating within Pennsylvania.The document is a supplement to Form PA-41, Pa Fiduciary Income Tax Return. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on April 1, 2018;
  • The latest edition provided by the Pennsylvania Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form PA-41 Schedule D by clicking the link below or browse more documents and templates provided by the Pennsylvania Department of Revenue.

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Download Form PA-41 Schedule D "Sale, Exchange or Disposition of Property" - Pennsylvania

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1904910054
PA-41 SCHEDULE D
Sale, Exchange or Disposition of Property
PA-41 D 06-19
(FI)
2019
PA Department of Revenue
OFFICIAL USE ONLY
START
Name as shown on PA-41
Federal EIN or Decedent’s SSN
HERE
Read all instructions. Enter all sales, exchanges or other dispositions of real or personal tangible and intangible property. Amounts from federal Form
1041 Schedule D may not be correct for Pennsylvania purposes. If a loss, fill in the oval next to the line.
(a)
(b)
(c)
(e)
(f)
(d)
Describe the property sold (Example: 100 shares of “ABC”
Month, day
Month, day
Cost or adjusted
Gain or Loss
Gross sales price
common stock, or 2 acres in Dauphin County)
and
and
less expenses
basis
(d) minus (e)
(b) and (c) example: MM/DD/YYYY
year acquired
year sold
of sale
LOSS
1.
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
2. Net gain or loss from above sales. If a net loss, fill in the oval . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Gain from PA Schedule(s) D-1, Installment Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
4. Taxable distributions from C corporations . . . . . . . . . . Enter total distribution
$
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Minus adjusted basis
$
=
4.
LOSS
5. Net gain or loss from PA Schedule D-71, Sale of 6-1-71 Property. If a loss, fill in the oval . . . . . . . . . . . . . . . . . . . . . . . .
5.
LOSS
6. Net partnership gain or loss from PA Schedules RK-1 or NRK-1. If a loss, fill in the oval . . . . . . . . . . . . . . . . . . . . . . . . .
6.
LOSS
7. Net PA S corporation gain or loss from PA Schedules RK-1 or NRK-1. If a loss, fill in the oval . . . . . . . . . . . . . . . . . . . .
7.
8. Taxable distributions from partnerships from REV-999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
9. Taxable distributions from PA S corporations from REV-998 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. Total net gain or loss. Add Lines 2 through 9. Enter the result here and on Line 4 of the PA-41.
LOSS
If the estate or trust realized a net loss, please fill in the oval . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.
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1904910054
PA-41 SCHEDULE D
Sale, Exchange or Disposition of Property
PA-41 D 06-19
(FI)
2019
PA Department of Revenue
OFFICIAL USE ONLY
START
Name as shown on PA-41
Federal EIN or Decedent’s SSN
HERE
Read all instructions. Enter all sales, exchanges or other dispositions of real or personal tangible and intangible property. Amounts from federal Form
1041 Schedule D may not be correct for Pennsylvania purposes. If a loss, fill in the oval next to the line.
(a)
(b)
(c)
(e)
(f)
(d)
Describe the property sold (Example: 100 shares of “ABC”
Month, day
Month, day
Cost or adjusted
Gain or Loss
Gross sales price
common stock, or 2 acres in Dauphin County)
and
and
less expenses
basis
(d) minus (e)
(b) and (c) example: MM/DD/YYYY
year acquired
year sold
of sale
LOSS
1.
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
LOSS
2. Net gain or loss from above sales. If a net loss, fill in the oval . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Gain from PA Schedule(s) D-1, Installment Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
4. Taxable distributions from C corporations . . . . . . . . . . Enter total distribution
$
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Minus adjusted basis
$
=
4.
LOSS
5. Net gain or loss from PA Schedule D-71, Sale of 6-1-71 Property. If a loss, fill in the oval . . . . . . . . . . . . . . . . . . . . . . . .
5.
LOSS
6. Net partnership gain or loss from PA Schedules RK-1 or NRK-1. If a loss, fill in the oval . . . . . . . . . . . . . . . . . . . . . . . . .
6.
LOSS
7. Net PA S corporation gain or loss from PA Schedules RK-1 or NRK-1. If a loss, fill in the oval . . . . . . . . . . . . . . . . . . . .
7.
8. Taxable distributions from partnerships from REV-999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
9. Taxable distributions from PA S corporations from REV-998 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. Total net gain or loss. Add Lines 2 through 9. Enter the result here and on Line 4 of the PA-41.
LOSS
If the estate or trust realized a net loss, please fill in the oval . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.
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2019
Pennsylvania Department of Revenue
Instructions for PA-41 Schedule D
Sale, Exchange or Disposition of Property
PA-41 D IN 06-19
COLUMN (e) – COST OR ADJUSTED BASIS
GENERAL INFORMATION
Enter cost of adjusted basis of the property sold.
PURPOSE OF SCHEDULE
COLUMN (f) – GAIN OR LOSS (d) MINUS (e)
Estates and trusts use PA-41 Schedule D to report the sale,
Determine whether the property was either 1 or 2, and follow
exchange or other dispositions of real or personal tangible
the appropriate instructions.
and intangible property.
1. If the property is income-producing property acquired as
Pennsylvania law does not recognize the deemed sale
an investment, (such as capital stock, an interest in a
election permitted by the Internal Revenue Service.
partnership or other business, a rental property, a patent
or copyright, etc.), or the estate or trust held the property
Report the sale, exchange or disposition of property on PA-
in connection with a business, profession or farm, and
41 Schedule D, unless the instructions require a different
the property is not inventory or an operational asset:
Pennsylvania schedule.
• Subtract Column (e) from Column (d) and enter the
FORM INSTRUCTIONS
gain, loss or zero in Column (f). If a loss, fill in the oval
next to the line;
NAME
2. If the property was other than income-producing
Enter the complete name of the estate or trust as shown on
property:
the PA-41, Fiduciary Income Tax Return.
• If Column (e) is less than or equal to Column (d) enter
FEIN OR DECEDENT’S SSN
the gain or zero in Column (f);
Enter the nine-digit federal employer identification number
• If Column (e) is greater than Column (d), the estate or
(FEIN) of the estate or trust or the decedent’s Social
trust does not realize a loss. Enter zero in Column (f).
Security number as shown on the PA-41, Fiduciary Income
Tax Return.
LINE 2
An estate with a FEIN should not use the decedent’s
NET GAIN (LOSS) FROM ABOVE SALES
Social Security number.
Add Column (f) and enter the total. Gains and losses may
LINE INSTRUCTIONS
be offset to calculate this line. If a loss, fill in the oval next to
the line.
LINE 1
LINE 3
COLUMN (a) – PROPERTY SOLD
GAIN FROM PA SCHEDULE D-1 INSTALLMENT SALES
List and describe the property sold or otherwise disposed of
The election to report using the installment method is made
for cash or other property.
by filing a PA Schedule D-1 (REV-1689) for the year of sale.
COLUMN (b) – MONTH, DAY AND YEAR ACQUIRED
Schedule D-1 is required in subsequent years in which any
payment is received. Obtain and complete PA Schedule D-
Enter the month, day and year the property was acquired. If
1 and enter the amount from Line 19 of the schedule on Line
the estate or trust acquired properties over time or a
3 of the PA-41 Schedule D.
summary line is being entered for multiple transactions, the
estate or trust may enter VARIOUS.
LINE 4
COLUMN (c) – MONTH, DAY AND YEAR SOLD
TAXABLE DISTRIBUTIONS FROM C CORPORATIONS
Enter the month, day and year property was sold. If the
estate or trust is entering a summary line for multiple
Enter total taxable distributions from C corporations.
transactions, the estate or trust may enter VARIOUS.
TAXABLE DISTRIBUTIONS FROM A C CORPORATION
COLUMN (d) – GROSS SALES PRICE
An estate or trust that is a shareholder in a C corporation
LESS EXPENSE OF SALE
must report as taxable gain the excess of the fair market
Enter the gross sales price or fair market value of cash
value of a distribution (other than a dividend) in excess of
and/or property received, less applicable expenses of sale.
current or accumulated earnings and profits over the
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PA-41 D
1
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adjusted basis of its stock when the adjusted basis of the
LINE 7
stock is zero.
NET PA S CORPORATION GAIN (LOSS) FROM PA
When a distribution, that is not a dividend, is received in
SCHEDULES RK-1 OR NRK-1
excess of the current or accumulated earnings and profits,
Report the net gain (loss) from the sale, exchange or
it decreases the basis of the stock or shares, but not below
disposition of property reported on PA-20S/PA-65 Schedule
zero, by any distribution that is not taxable as a dividend on
RK-1, Line 4 or on PA-20S/PA-65 Schedule NRK-1, Line 2.
Line 2 of PA-41, Fiduciary Income Tax Return.
If a loss, fill in the oval next to the line.
Once a distribution reduces the basis of the stock to zero,
If the estate or trust realizes income from more than one PA
the excess distributions are taxable as gains from the
S corporation, provide a statement showing the FEIN, name
disposition of property and reported on Schedule D, Line 4.
and amount of income by the PA S corporation.
Example B. B Corp distributes from its capital account
Submit all PA-20S/PA-65 Schedules RK-1 or NRK-1 to
$100,000 to the estate of John Doe, the only stockholder.
support the amount reported on PA-41 Schedule D Line 7.
The estate’s adjusted basis in the stock is $75,000.
Include a copy of federal Form 1120S Schedule K-1 if a PA-
The distribution is not from the regular corporation’s
20S/PA-65 Schedule RK-1 is not supplied by the PA S
earnings and profits, so it is not a taxable dividend.
corporation or entity formed as a limited liability company
classified as a PA S corporation for federal income tax
The estate must reduce its basis from $75,000 to zero, then
purposes. If the estate or trust receives only a federal Form
report $100,000 on the "Enter total distribution" line, and
1120S Schedule K-1, the estate or trust must obtain a PA-
$75,000 on the "Minus adjusted basis" line.
20S/ PA-65 Schedule RK-1 from the entity. The department
will only permit the estate or trust to adjust and reclassify
The estate reports the remaining $25,000 as a gain on its
the income from federal Form 1120S Schedule K-1
PA-41 Schedule D.
according to Pennsylvania rules in limited circumstances.
Refer to the PA Personal Income Tax Guide - Pass Through
LINE 5
Entities section, for additional information on the
PROPERTY ACQUIRED BEFORE JUNE 1, 1971
adjustments required and the proper classification of
income.
If any property was acquired before June 1, 1971, use PA
Schedule D-71 (REV-1742), Gain or Loss on Property
LINE 8
Acquired Prior to June 1, 1971 to report the gain or loss. If
a loss, fill in the oval next to the line.
TAXABLE DISTRIBUTIONS FROM
PARTNERSHIPS FROM REV-999
LINE 6
Report any gain realized from other partnership
distributions that exceedthe estate or trust’s ownership
NET PARTNERSHIP GAIN (LOSS) FROM PA
basis in that partnership.
SCHEDULES RK-1 OR NRK-1
Report the net gain (loss) from the sale, exchange or
Complete and submit REV-999, Partner’s Outside Tax Basis
disposition of property reported the PA-20S/PA-65 Schedule
in a Partnership Worksheet. The worksheet is available on
RK-1, Line 4 or the PA Schedule NRK-1, Line 2. If a loss, fill
the department’s website.
in the oval next to the line.
LINE 9
If the estate or trust realizes income from more than one
partnership, provide a statement showing the FEIN, name
TAXABLE DISTRIBUTIONS FROM PA S
and amount of income by the partnership.
CORPORATIONS FROM REV-998
Report any gain realized from other PA S corporation
Submit all PA-20S/PA-65 Schedules RK-1 or NRK-1 to
distributions that exceed the estate or trust’s ownership
support the amount reported on PA-41 Schedule D Line 6.
basis in that PA S corporation.
Include a copy of federal Form 1065 Schedule K-1 if a PA-
20S/PA-65 Schedule RK-1 is not supplied by the partnership
Complete and submit REV-998, Shareholder Tax Basis in
or entity formed as a limited liability company classified as
PA S Corporation Stock Worksheet. The worksheet, is
a partnership for federal income tax purposes. If the estate
available on the department’s website.
or trust receives only a federal Form 1065 Schedule K-1, the
income must be adjusted and classified from federal Form
LINE 10
1065 Schedule K-1 according to Pennsylvania rules. Refer
TOTAL NET GAIN (LOSS)
to the PA Personal Income Tax Guide - Pass Through
Entities section, for additional information on the
Add Lines 2 through 9. Include the net gain (loss) on the PA-
adjustments required and the proper classification of
41, Fiduciary Income Tax Return, Line 4. If a loss, fill in the
income.
oval next to the line.
2
PA-41 D
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