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Introduction to Schedule D

Summary

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.

Objectives

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.

Course Details

This course includes an e-book. CPE is issued after exam is successfully completed.




   

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