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;

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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1804910055
PA-41 SCHEDULE D
Sale, Exchange or Disposition of Property
PA-41 D 04-18
(FI)
2018
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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1804910055
PA-41 SCHEDULE D
Sale, Exchange or Disposition of Property
PA-41 D 04-18
(FI)
2018
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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2018
Pennsylvania Department of Revenue
Instructions for PA-41 Schedule D
Sale, Exchange or Disposition of Property
PA-41 D IN 04-18
a summary line for multiple transactions,
LINE 3
GENERAL INFORMATION
the estate or trust may enter VARIOUS.
Gain from PA Schedule D-1
PURPOSE OF SCHEDULE
Column (d) – Gross Sales Price
Installment Sales
Estates and trusts use PA-41 Schedule
Less Expense of Sale
The election to report using the install-
D to report the sale, exchange or other
Enter the gross sales price or fair market
ment method is made by filing a PA
dispositions of real or personal tangible
value of cash and/or property received,
Schedule D-1 (REV-1689) for the year
and intangible property.
less applicable expenses of sale.
of sale. Schedule D-1 is required in
Pennsylvania law does not recognize
subsequent years in which any payment
Column (e) – Cost or
the deemed sale election permitted by
is received. Obtain and complete PA
Adjusted Basis
the Internal Revenue Service.
Schedule D-1 and enter the amount
Enter cost of adjusted basis of the
from Line 19 of the schedule on Line 3
Report the sale, exchange or disposition
property sold.
of the PA-41 Schedule D.
of property on PA-41 Schedule D, unless
the instructions require a different
Column (f) – Gain or Loss (d)
LINE 4
Pennsylvania schedule.
Minus (e)
Determine whether the property was
Taxable Distributions from C
FORM INSTRUCTIONS
either 1 or 2, and follow the appropriate
Corporations
instructions.
Name
Enter total taxable distributions from
Enter the complete name of the estate or
C corporations.
1. If the property is income-producing
trust as shown on the PA-41, Fiduciary
property acquired as an investment,
Taxable Distributions from a
Income Tax Return.
(such as capital stock, an interest
C Corporation
FEIN or Decedent’s SSN
in a partnership or other business,
An estate or trust that is a shareholder
Enter the nine-digit federal employer
in a C corporation must report as taxable
a rental property, a patent or copy-
identification number (FEIN) of the estate
gain the excess of the fair market value
right, etc.), or the estate or trust held
or trust or the decedent’s Social Security
of a distribution (other than a dividend)
the property in connection with a
number as shown on the PA-41, Fiduciary
in excess of current or accumulated
business, profession or farm, and
Income Tax Return.
earnings and profits over the adjusted
the property is not inventory or an
basis of its stock when the adjusted
An estate with a FEIN should
operational asset:
basis of the stock is zero.
not use the decedent’s Social
Subtract Column (e) from Column
Security number.
When a distribution, that is not a
(d) and enter the gain, loss or
dividend, is received in excess of the
zero in Column (f). If a loss, fill in
LINE INSTRUCTIONS
current or accumulated earnings and
the oval next to the line;
profits, it decreases the basis of the
2. If the property was other than
stock or shares, but not below zero, by
LINE 1
income-producing property:
any distribution that is not taxable as a
Column (a) – Property Sold
dividend on Line 2 of PA-41, Fiduciary
If Column (e) is less than or equal
List and describe the property sold or
Income Tax Return.
to Column (d) enter the gain or
otherwise disposed of for cash or other
zero in Column (f);
Once a distribution reduces the basis of
property.
the stock to zero, the excess distributions
If Column (e) is greater than
Column (b) – Month, Day and
are taxable as gains from the disposition
Column (d), the estate or trust
Year Acquired
of property and reported on Schedule D,
does not realize a loss. Enter
Enter the month, day and year property
Line 4.
zero in Column (f).
was acquired. If the estate or trust
Example B. B Corp distributes from its
acquired properties over time or a
capital account $100,000 to the estate
summary line is being entered for
LINE 2
of John Doe, the only stockholder. The
multiple transactions, the estate or trust
estate’s adjusted basis in the stock is
may enter VARIOUS.
Net Gain (Loss) from Above Sales
$75,000.
Add Column (f) and enter the total.
Column (c) – Month, Day and Year
Gains and losses may be offset to cal-
Sold
The distribution is not from the regular
culate this line. If a loss, fill in the oval
Enter the month, day and year property
corporation’s earnings and profits, so it
was sold. If the estate or trust is entering
next to the line.
is not a taxable dividend.
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PA-41 D
1
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The estate must reduce its basis from
liability company classified as a partner-
the estate or trust to adjust and reclas-
ship for federal income tax purposes. If
$75,000 to zero, then report $100,000
sify the income from federal Form 1120S
the estate or trust receives only a federal
Schedule K-1 according to Pennsylvania
on the "Enter total distribution" line, and
Form 1065 Schedule K-1, the income
rules in limited circumstances. See the
$75,000 on the "Minus adjusted basis"
must be adjusted and classified from
PA PIT Guide, Chapter 16, Pass
line.
federal Form 1065 Schedule K-1
Through Entities, for additional informa-
The estate reports the remaining $25,000
according to Pennsylvania rules. See
tion on the adjustments required and the
as a gain on its PA-41 Schedule D.
the PA PIT Guide, Chapter 16, Pass
proper classification of income.
Through Entities, for additional informa-
LINE 5
tion on the adjustments required and the
LINE 8
proper classification of income.
Property Acquired Before
Taxable Distributions from
June 1, 1971
Partnerships from REV-999
LINE 7
If any property was acquired before
Report any gain realized from other
June 1, 1971, use PA Schedule D-71
Net PA S Corporation Gain
partnership distributions that exceed
(REV-1742), Gain or Loss on Property
(Loss) from PA Schedules
the estate or trust’s ownership basis in
Acquired Prior to June 1, 1971 to report
RK-1 or NRK-1
that partnership.
the gain or loss. If a loss, fill in the oval
Report the net gain (loss) from the sale,
Complete and submit REV-999, Part-
next to the line.
exchange or disposition of property
ner’s Outside Tax Basis in a Partnership
reported on PA-20S/PA-65 Schedule
Worksheet. The worksheet is available
LINE 6
RK-1, Line 4 or on PA-20S/PA-65
on the department’s website.
Schedule NRK-1, Line 2. If a loss, fill in
Net Partnership Gain (Loss)
the oval next to the line.
from PA Schedules RK-1
LINE 9
If the estate or trust realizes income from
or NRK-1
Taxable Distributions from PA S
more than one PA S corporation, provide
Report the net gain (loss) from the sale,
Corporations from REV-998
a statement showing the FEIN, name
exchange or disposition of property
and amount of income by the PA
Report any gain realized from other PA
reported the PA-20S/PA-65 Schedule
S corporation.
S corporation distributions that exceed
RK-1, Line 4 or the PA Schedule NRK-1,
the estate or trust’s ownership basis in
Line 2. If a loss, fill in the oval next to the
Submit all PA-20S/PA-65 Schedules
that PA S corporation.
line.
RK-1 or NRK-1 to support the amount
reported on PA-41 Schedule D Line 7.
Complete and submit REV-998, Share-
If the estate or trust realizes income from
Include a copy of federal Form 1120S
holder Tax Basis in PA S Corporation
more than one partnership, provide a
Schedule K-1 if a PA-20S/PA-65 Sched-
Stock Worksheet. The worksheet, is
statement showing the FEIN, name and
ule RK-1 is not supplied by the PA S
available on the department’s website.
amount of income by the partnership.
corporation or entity formed as a limited
Submit all PA-20S/PA-65 Schedules
liability company classified as a PA S
LINE 10
RK-1 or NRK-1 to support the amount
corporation for federal income tax
reported on PA-41 Schedule D Line 6.
Total Net Gain (Loss)
purposes. If the estate or trust receives
Include a copy of federal Form 1065
only a federal Form 1120S Schedule
Add Lines 2 through 9. Include the net
Schedule K-1 if a PA-20S/PA-65
K-1, the estate or trust must obtain a
gain (loss) on the PA-41, Fiduciary
Schedule RK-1 is not supplied by the
Income Tax Return, Line 4. If a loss, fill
PA-20S/ PA-65 Schedule RK-1 from the
partnership or entity formed as a limited
entity. The department will only permit
in the oval next to the line.
2
PA-41 D
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