Schedule D (Form 1 Capital Gains and Losses

OMB No. 1545-0092

SCHEDULE D
(Form 1041)
Department of the Treasury
Internal Revenue Service

Capital Gains and Losses

2006

© Attach to Form 1041, Form 5227, or Form 990-T. See the separate
instructions for Form 1041 (also for Form 5227 or Form 990-T, if applicable).

Name of estate or trust

Employer identification number

Note: Form 5227 filers need to complete only Parts I and II.

Part I

Short-Term Capital Gains and Losses—Assets Held One Year or Less
(a) Description of property
(Example: 100 shares 7%
preferred of “Z” Co.)

(b) Date
acquired
(mo., day, yr.)

(c) Date sold
(mo., day, yr.)

(d) Sales price

(f) Gain or (Loss)
for the entire year
(col. (d) less col. (e))

(e) Cost or other basis
(see page 35)

1

2
3
4
5

Short-term capital gain or (loss) from Forms 4684, 6252, 6781, and 8824
Net short-term gain or (loss) from partnerships, S corporations, and other estates or trusts
Short-term capital loss carryover. Enter the amount, if any, from line 9 of the 2005 Capital Loss
Carryover Worksheet
Net short-term gain or (loss). Combine lines 1 through 4 in column (f). Enter here and on line 13,
©
column (3) below

Part II

2
3
4

(

)

5

Long-Term Capital Gains and Losses—Assets Held More Than One Year
(a) Description of property
(Example: 100 shares 7%
preferred of “Z” Co.)

(b) Date
acquired
(mo., day, yr.)

(c) Date sold
(mo., day, yr.)

(d) Sales price

(e) Cost or other basis
(see page 35)

(f) Gain or (Loss)
for the entire year
(col. (d) less col. (e))

6

7
Long-term capital gain or (loss) from Forms 2439, 4684, 6252, 6781, and 8824
8
Net long-term gain or (loss) from partnerships, S corporations, and other estates or trusts
9
Capital gain distributions
10
Gain from Form 4797, Part I
Long-term capital loss carryover. Enter the amount, if any, from line 14 of the 2005 Capital Loss
11 (
Carryover Worksheet
12 Net long-term gain or (loss). Combine lines 6 through 11 in column (f). Enter here and on line 14a,
©
column (3) below
12
Part III
Summary of Parts I and II
(1) Beneficiaries’
(2) Estate’s
or trust’s
Caution: Read the instructions before completing this part. (see page 36)
7
8
9
10
11

13
14

Net short-term gain or (loss)
Net long-term gain or (loss):
a Total for year
b Unrecaptured section 1250 gain (see line 18 of the
worksheet on page 36)

13

c 28% rate gain

14c

)

(3) Total

14a
14b

15
15 Total net gain or (loss). Combine lines 13 and 14a ©
Note: If line 15, column (3), is a net gain, enter the gain on Form 1041, line 4. If lines 14a and 15, column (2), are net gains, go to
Part V, and do not complete Part IV. If line 15, column (3), is a net loss, complete Part IV and the Capital Loss Carryover Worksheet,
as necessary.
For Paperwork Reduction Act Notice, see the Instructions for Form 1041.

Cat. No. 11376V

Schedule D (Form 1041) 2006

Schedule D (Form 1041) 2006

Part IV

Page

2

Capital Loss Limitation

16

Enter here and enter as a (loss) on Form 1041, line 4, the smaller of:
a The loss on line 15, column (3) or
)
16 (
b $3,000
If the loss on line 15, column (3), is more than $3,000, or if Form 1041, page 1, line 22, is a loss, complete the Capital Loss
Carryover Worksheet on page 39 of the instructions to determine your capital loss carryover.

Part V

Tax Computation Using Maximum Capital Gains Rates (Complete this part only if both lines 14a and
15 in column (2) are gains, or an amount is entered in Part I or Part II and there is an entry on Form 1041,
line 2b(2), and Form 1041, line 22 is more than zero.)

Note: If line 14b, column (2) or line 14c, column (2) is more than zero, complete the worksheet on page 37 of the instructions
and skip Part V. Otherwise, go to line 17.
17
18
19

20
21

Enter taxable income from Form 1041, line 22
Enter the smaller of line 14a or 15 in column (2)
but not less than zero
Enter the estate’s or trust’s qualified dividends
from Form 1041, line 2b(2)
Add lines 18 and 19
If the estate or trust is filing Form 4952, enter the
©
amount from line 4g; otherwise, enter -0-

17
18
19
20
21

22

Subtract line 21 from line 20. If zero or less, enter -0-

22

23

Subtract line 22 from line 17. If zero or less, enter -0-

23

24
25

Enter the smaller of the amount on line 17 or $2,050
Is the amount on line 23 equal to or more than the amount on line 24?
Yes. Skip lines 25 through 27; go to line 28 and check the “No” box.
No. Enter the amount from line 23

24

26

Subtract line 25 from line 24

26

27
28

Multiply line 26 by 5% (.05)
Are the amounts on lines 22 and 26 the same?
Yes. Skip lines 28 through 31; go to line 32.
No. Enter the smaller of line 17 or line 22

28

29

Enter the amount from line 26 (If line 26 is blank, enter -0-)

29

30

Subtract line 29 from line 28

30

31
32

Multiply line 30 by 15% (.15)
Figure the tax on the amount on line 23. Use the 2006 Tax Rate Schedule on page 23 of the
instructions

33
34
35

25

27

Add lines 27, 31, and 32
Figure the tax on the amount on line 17. Use the 2006 Tax Rate Schedule on page 23 of the
instructions
Tax on all taxable income. Enter the smaller of line 33 or line 34 here and on line 1a of
Schedule G, Form 1041

31
32
33
34
35

Schedule D (Form 1041) 2006

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