Instructions for Schedule D-1 Sales of Business Property - Hawaii

This document contains official instructions for Schedule D-1 , Sales of Business Property - a form released and collected by the Hawaii Department of Taxation.

FAQ

Q: What is Schedule D-1?A: Schedule D-1 is a form used for reporting sales of business property in Hawaii.

Q: Who needs to file Schedule D-1?A: Anyone who has sold business property in Hawaii needs to file Schedule D-1.

Q: What information is required on Schedule D-1?A: You need to provide details of the property sold, the date of the sale, the sale price, and other relevant information.

Q: When is the deadline for filing Schedule D-1?A: The deadline for filing Schedule D-1 in Hawaii is typically April 20th of the year following the sale of the property.

Q: Are there any exceptions to filing Schedule D-1?A: There may be exceptions for certain types of property sales, so it's best to consult with a tax professional or the Hawaii Department of Taxation.

Q: What happens if I don't file Schedule D-1?A: Failure to file Schedule D-1 or reporting inaccurate information may result in penalties or additional taxes owed.

Q: Can I e-file Schedule D-1?A: Yes, Hawaii allows for electronic filing of Schedule D-1.

Q: Do I need to include supporting documents with Schedule D-1?A: You should keep records and supporting documents related to the property sale in case of an audit, but you typically do not need to submit them with your initial filing.