What are the some 2005 IRS statements regarding the Schedule D form 1040?
Notice Clarification of the 2005 Instructions for Schedule D (Form 1040) The IRS has received many inquiries about a new instruction that was added on page D-6 of the 2005 Schedule D instructions for completing lines 1 and 8. The new instruction states: “You must enter the details of each transaction on a separate line. If you have more than five transactions to report on line 1 or line 8, report the additional transactions on Schedule D-1. Use as many Schedules D-1 as you need. Enter on Schedule D, lines 2 and 9, the combined totals from all your Schedules D-1. Do not enter “see attached” and summary totals from an attachment in lieu of reporting the details of each transaction directly on Schedule D or D-1.” However, on page D-3 of the 2005 Schedule D instructions, the instructions for “Traders in Securities” state: “Like an investor, a trader must report each sale of securities (taking into account commissions and any other costs of acquiring or disposing of the securities) on Sched
