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1040 Schedule-D Form


Individuals must record and report any investments or assets sold and pay taxes on the profits from the same. If the sale of investments or assets incurs a loss, the individual can deduct the capital losses from their income tax bill. Schedule D distinguishes between short-term capital gains or losses and long-term capital gains or losses. Long-term capital gains are generally taxed at lower rates than short-term capital gains.

Schedule D dictates how an individual should collect, assess, and report information about capital asset sales and prior year capital loss carry-forwards. To properly fill out Schedule D, individuals may need to reference information from other tax forms. The capital gain or loss taxes computed on Schedule D are combined with other income and loss as part of the taxpayer’s adjusted gross income, which is reported on Form 1040.

Notice: River Financial does not provide investment, financial, tax, or legal advice. The information provided is general and illustrative in nature and therefore is not intended to provide, and should not be relied on for, tax advice. We encourage you to consult the appropriate tax professional to understand your personal tax circumstances.