Introduction to Schedule D
This course helps tax professionals 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. It starts with basis and the disposition of a capital asset. Then 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.
- Analyze if the net investment income tax applies.
- Compute the §121 exclusion for the sale of a principal residence.
This course includes an e-book. CPE is issued after exam is successfully completed.