What tax schedule do I use to report capital gains and losses?
• If you sold or exchanged any securities or certain other property during the tax year, you will probably have to complete Schedule D, Capital Gains and Losses. Schedule D can be highly annoying, especially if you are an active investor who buys and sells often. Beginning in 1998, if you sell your principal home and can exclude all of the gain (up to $500,000 for married couples filing a joint return and $250,000 for single filers), you do not need to report the sale on your tax return. If you cannot exclude all of the gain, you must report the sale on Schedule D.
If you sold or exchanged any securities or certain other property during the tax year, you will probably have to complete Schedule D, Capital Gains and Losses. Schedule D can be highly annoying, especially if you are an active investor who buys and sells often. Beginning in 1998, if you sell your principal home and can exclude all of the gain (up to $500,000 for married couples filing a joint return and $250,000 for single filers), you do not need to report the sale on your tax return. If you cannot exclude all of the gain, you must report the sale on Schedule D.
