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Kentucky Kentucky Capital Gains and Losses
Extracted from PDF file 2023-kentucky-schedule-d-741.pdf, last modified September 2023Kentucky Capital Gains and Losses
FORM 741 KENTUCKY CAPITAL GAINS AND LOSSES SCHEDULE D 2023 Commonwealth of Kentucky Department of Revenue Use Form 8949 to list your Kentucky transactions for lines 1(b), 2, 3, 8(b), 9 and 10. Name of estate or trust Enclose with Form 741 Federal Employer Identification Number PART I—SHORT-TERM CAPITAL GAINS AND LOSSES (Assets Held One Year or Less) See instructions for how to figure the amounts to enter on the lines below. (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) (h) Gain or (loss) Subtract column (e) from column (d) and combine the result with column (g) 1(a) 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 1(b). 1(b) Totals for all transactions reported on Form(s) 8949 with Box A checked............................................................................. 2 Totals for all transactions reported on Form(s) 8949 with Box B checked............................................................................. 3 Totals for all transactions reported on Form(s) 8949 with Box C checked............................................................................. 4 Short-term capital gain or (loss) from federal Forms 4684, 6252, 6781 and 8824............................................................ 4 5 Enter net short-term gain or (loss) from partnerships, S corporations and other fiduciaries............................................. 5 6 Short-term capital loss carryover from 2022 Schedule D, line 29..................................................................................... 6 ( ) 7 Net short-term gain or (loss), combine lines 1(a) through 6 in column (h). Enter here and on line 17.............................. 7 PART II—LONG-TERM CAPITAL GAINS AND LOSSES (Assets Held More Than One Year) See instructions for how to figure the amounts to enter on the lines below. (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) 8(a) 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 8(b). 8(b) 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 or (loss) from federal Forms 2439, 4684, 6252, 6781 and 8824.................................................. 11 12 Enter net long-term gain or (loss) from partnerships, S corporations and other fiduciaries.............................................. 12 13 Capital gain distributions................................................................................................................................................... 13 14 Enter gain, if applicable, from federal Form 4797............................................................................................................. 14 15 Long-term capital loss carryover from 2022 Schedule D, line 36..................................................................................... 15 ( ) 16 Net long-term gain or (loss), combine lines 8(a) through 15 in column (h). Enter here and on line 18............................. 16 230031 42A741-D (10-23) Page 1 of 2 SCHEDULE D (Form 741) 2023 Page 2 of 2 PART III—SUMMARY OF PARTS I AND II 1. Beneficiaries 2. Estates or Trusts 3. Total 17 Net short-term gain or (loss) from line 7.............................................. 17 18 Net long-term gain or (loss) from line 16.............................................. 18 19 Total net gain or (loss).......................................................................... 19 Enter on Form 741, Schedule M, line 3, the net gain shown on line 19, column 3 above that is not reported on federal Form 1041. If net (loss) on line 19, column 3 above, complete Part IV. PART IV—COMPUTATION OF CAPITAL LOSS LIMITATION 20 Enter the smaller of: i The net loss on line 19, column 3; or ii $3,000.................................................................................................................................................................... 20 ( ) Enter on Form 741, Schedule M, line 7, any additional loss that is not reported on federal Form 1041. If the net loss on line 19, column 3, is more than $3,000, complete Part V to determine your capital loss carryover. PART V—COMPUTATION OF CAPITAL LOSS CARRYOVERS FROM 2023 TO 2024 SECTION A—Computation of Carryover Limit 21 Enter taxable income or (loss) for 2023 from Form 741.............................................................................................. 21 22 Enter loss from line 20, above, as a positive amount.................................................................................................. 22 23 Adjusted taxable income (combine lines 21 and 22; do not enter less than zero)....................................................... 23 24 Enter the lesser of lines 22 or 23................................................................................................................................. 24 SECTION B—Short-Term Capital Loss Carryover (Complete this section only if there is a loss on line 7, and line 19, column 3.) 25 Enter loss shown on line 7, Schedule D, Part I, as a positive amount......................................................................... 25 26 Enter gain, if any, from line 16. (If that line is blank or shows a loss, enter zero.)....................................................... 26 27 Enter amount from line 24, above................................................................................................................................ 27 28 Add lines 26 and 27..................................................................................................................................................... 28 29 Subtract line 28 from line 25. If zero or less, enter zero. This is your short-term capital loss carryover from 2023 to 2024........................................................................................................................................................ 29 SECTION C—Long-Term Capital Loss Carryover (Complete this section only if there is a loss on line 16 and line 19, column 3.) 30 Enter loss from line 16 as a positive amount............................................................................................................... 30 31 Enter gain, if any, from line 7, Schedule D, Part I. (If that line is blank or shows a loss, enter zero.).......................... 31 32 Enter amount from line 24, above................................................................................................................................ 32 33 Enter amount, if any, from line 25, above.................................................................................................................... 33 34 Subtract line 33 from line 32. If zero or less, enter zero.............................................................................................. 34 35 Add lines 31 and 34..................................................................................................................................................... 35 36 Subtract line 35 from line 30. If zero or less, enter zero. This is your long-term capital loss carryover from 2023 to 2024........................................................................................................................................................ 36 230032 42A741-D (10-23) Page 2 of 2
Schedule D (741)
More about the Kentucky Schedule D (741) Corporate Income Tax TY 2023
We last updated the Kentucky Capital Gains and Losses in February 2024, so this is the latest version of Schedule D (741), fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule D (741) directly from TaxFormFinder. You can print other Kentucky tax forms here.
Related Kentucky Corporate Income Tax Forms:
TaxFormFinder has an additional 129 Kentucky income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Kentucky Schedule D (741).
| Form Code | Form Name |
|---|---|
| Schedule DS | Distilled Spirits Tax Credit - Form 41A720DS |
| Schedule DS-R | Distilled Spirits Tax Credit Recapture |
View all 130 Kentucky Income Tax Forms
Form Sources:
Kentucky usually releases forms for the current tax year between January and April. We last updated Kentucky Schedule D (741) from the Department of Revenue in February 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Kentucky Schedule D (741)
We have a total of ten past-year versions of Schedule D (741) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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