Federal Capital Gains and Losses and Built-in Gains

Capital Gains and Losses and Built-in Gains
2023 Schedule D (Form 1120-S)
SCHEDULE D
(Form 1120-S)
Department of the Treasury
Internal Revenue Service

Capital Gains and Losses and Built-in Gains

OMB No. 1545-0123

Attach to Form 1120-S.
Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10.
Go to www.irs.gov/Form1120S for instructions and the latest information.

2023
Employer identification number

Name

Did the corporation dispose of any investment(s) in a qualified opportunity fund during the tax year? . . . .
If “Yes,” attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss.

Part I

This form may be easier to complete if you
round off the cents to whole dollars.

(d)
Proceeds
(sales price)

(e)
Cost
(or other basis)

(g)
Adjustments to
gain or loss from
Form(s) 8949, Part I,
line 2, column (g)

Yes

No

(h) Gain or (loss)
Subtract column (e)
from column (d) and
combine the result
with column (g)

Totals for all short-term transactions
reported on Form 1099-B for which
basis was reported to the IRS and for
which you have no adjustments (see
instructions). However, if you choose
to report all these transactions on
Form 8949, leave this line blank and go
to line 1b . . . . . . . . . .

1b Totals for all transactions reported on
Form(s) 8949 with Box A checked . .
Totals for all transactions reported on
2
Form(s) 8949 with Box B checked . .
Totals for all transactions reported on
3
Form(s) 8949 with Box C checked . .
4
Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . .
5
Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . .
6
Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . .
7
Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). Enter here and
on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . .

Part II

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Long-Term Capital Gains and Losses—Generally Assets Held More Than One Year (see instructions)

See instructions for how to figure the amounts
to enter on the lines below.
This form may be easier to complete if you
round off the cents to whole dollars.

8a

.

Short-Term Capital Gains and Losses—Generally Assets Held One Year or Less (see instructions)

See instructions for how to figure the amounts
to enter on the lines below.

1a

.

(d)
Proceeds
(sales price)

(e)
Cost
(or other basis)

(g)
Adjustments to
gain or loss from
Form(s) 8949, Part II,
line 2, column (g)

(h) Gain or (loss)
Subtract column (e)
from column (d) and
combine the result
with column (g)

Totals for all long-term transactions
reported on Form 1099-B for which
basis was reported to the IRS and for
which you have no adjustments (see
instructions). However, if you choose
to report all these transactions on
Form 8949, leave this line blank and go
to line 8b . . . . . . . . . .

8b Totals for all transactions reported on
Form(s) 8949 with Box D checked . .
9
Totals for all transactions reported on
Form(s) 8949 with Box E checked . .
10
Totals for all transactions reported on
Form(s) 8949 with Box F checked . .
11
Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . .
12
Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . .
13
Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . .
14
Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . .
15
Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Enter here and
on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . .
For Paperwork Reduction Act Notice, see the Instructions for Form 1120-S.

Cat. No. 11516V

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Schedule D (Form 1120-S) 2023

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Schedule D (Form 1120-S) 2023

Part III
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Built-in Gains Tax (See instructions before completing this part.)

Excess of recognized built-in gains over recognized built-in losses (attach computation statement)
Taxable income (attach computation statement) . . . . . . . . . . . . . . . . .
Net recognized built-in gain. Enter the smallest of line 16, line 17, or line 8 of Schedule B . . .
Section 1374(b)(2) deduction . . . . . . . . . . . . . . . . . . . . . . .
Subtract line 19 from line 18. If zero or less, enter -0- here and on line 23 . . . . . . . . .
Enter 21% (0.21) of line 20 . . . . . . . . . . . . . . . . . . . . . . . .
Section 1374(b)(3) business credit and minimum tax credit carryforwards from C corporation years
Tax. Subtract line 22 from line 21 (if zero or less, enter -0-). Enter here and on Form 1120-S, page 1,
line 23b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Schedule D (Form 1120-S) 2023