Introduction to Schedule D
With this course, you’ll gain a basic knowledge and understanding of Form 8949, Sales and Other Dispositions of Capital Assets, and Schedule D (Form 1040), Capital Gains and Losses, for individual taxpayers. The course covers issues such as determining the correct basis of an asset, the proper disposition of a capital asset and the tax treatment of capital gains and losses, including the net investment income tax, and the §121 exclusion for gain on the sale of a principal residence.
Upon completion of this course, you will be able to:
- Identify sales that are reported on Form 8949 and Schedule D.
- Calculate the adjusted basis of capital assets.
- Determine whether the holding period of an asset is short-term or long-term.
- Summarize the tax treatment of capital losses.
- Apply the appropriate tax rates to capital gains.
- Decide if the net investment income tax applies.
- Compute the §121 exclusion for the sale of a principal residence.
This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.