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IRS Form 1120S Schedule D Capital Gains and Losses and Built-In Gains
What Is IRS Form 1120S Schedule D?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. The document is a supplement to IRS Form 1120S, U.S. Income Tax Return for an S Corporation. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 1120S?A: IRS Form 1120S is a tax form used by S corporations to report their income, deductions, and credits.
Q: What is Schedule D?A: Schedule D is a form attached to Form 1120S that is used to report capital gains and losses.
Q: What are capital gains and losses?A: Capital gains are the profits made from the sale of assets, while capital losses are the losses incurred from the sale of assets.
Q: What is a built-in gain?A: A built-in gain is a gain that is made when an S corporation sells an asset that appreciated in value during a period in which it was a C corporation.
Form Details:
- A 2-page form available for download in PDF;
- This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
- Editable, printable, and free;
- Fill out the form in our online filing application.
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Download IRS Form 1120S Schedule D Capital Gains and Losses and Built-In Gains
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