Schedule D (Form 1 Capital Gains and Losses

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I.R.S. SPECIFICATIONS

TO BE REMOVED BEFORE PRINTING

INSTRUCTIONS TO PRINTERS
SCHEDULE D (FORM 1041), PAGE 1 of 2
MARGINS: TOP 13mm (1⁄ 2 "), CENTER SIDES.
PAPER: WHITE WRITING, SUB. 20.
FLAT SIZE: 216mm (81⁄ 2 ") x 279mm (11")
PERFORATE: (NONE)

Action

Date

Signature

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PRINTS: HEAD TO HEAD
INK: BLACK

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APPROVED AS CORRECTED
JC 11/10/2007

O.K. to print

Revised proofs
requested

Cumulative Changes Copy -- OMB Copy
Yellow highlights are changes; yellow boxes with D are deletions.

OMB No. 1545-0092

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

Capital Gains and Losses

Name of estate or trust
The entry lines
1a & 6a were
enlarged & the

Employer identification number

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

Part I

decreased from

lower case

Short-Term Capital Gains and Losses—Assets Held One Year or Less

(a) Description of property
(Example: 100 shares 7% preferred of “Z” Co.)

# of lines
6 to 5 lines.

2007

© 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).

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

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

(f) Gain or (Loss) for
the entire year
Subtract (e) from (d)

(e) Cost or other basis
(see page 39)

(d) Sales price

1a

of the instruction

1b

b Enter the short-term gain or (loss), if any, from Schedule D-1, line 1b
2

Short-term capital gain or (loss) from Forms 4684, 6252, 6781, and 8824

2

3
4

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 2006 Capital Loss
Carryover Worksheet
Net short-term gain or (loss). Combine lines 1a through 4 in column (f). Enter here and on line 13,
©
column (3) on the back

3

5

Part II

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 39)

)
lower case
(f) Gain or (Loss) for
the entire year
Subtract (e) from (d)

6a

of the instructions

6b

b Enter the long-term gain or (loss), if any, from Schedule D-1, line 6b
7

Long-term capital gain or (loss) from Forms 2439, 4684, 6252, 6781, and 8824

7

8

Net long-term gain or (loss) from partnerships, S corporations, and other estates or trusts

8

9

Capital gain distributions

9

Gain from Form 4797, Part I
Long-term capital loss carryover. Enter the amount, if any, from line 14 of the 2006 Capital Loss
Carryover Worksheet
Net long-term gain or (loss). Combine lines 6a through 11 in column (f). Enter here and on line 14a,
©
column (3) on the back

10

10
11
12

For Paperwork Reduction Act Notice, see the Instructions for Form 1041.

Cat. No. 11376V

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)

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Schedule D (Form 1041) 2007

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I.R.S. SPECIFICATIONS

TO BE REMOVED BEFORE PRINTING

INSTRUCTIONS TO PRINTER
SCHEDULE D (FORM 1041), PAGE 2 OF 2
MARGINS: TOP 13mm (1⁄ 2 "), CENTER SIDES.
PAPER: WHITE, WRITING, SUB. 20
FLAT SIZE: 216mm (81⁄ 2 ") x 279mm (11")
PERFORATE: (NONE)

PRINTS: HEAD TO HEAD
INK: BLACK

DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

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Note:
Schedule D (Form 1041) 2007

Part III

Page

Summary of Parts I and II

(1) Beneficiaries’
Caution: Read the instructions before completing this part. (see page 40)
13
13 Net short-term gain or (loss)
14 Net long-term gain or (loss):
14a
a Total for year
14b
b Unrecaptured section 1250 gain (see line 18 of the wrksht.)
14c
c 28% rate gain
15
15 Total net gain or (loss). Combine lines 13 and 14a ©

(2) Estate’s
or trust’s

2

(3) Total

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.

Part IV
16

Capital Loss Limitation

Enter here and enter as a (loss) on Form 1041, line 4, the smaller of:

a The loss on line 15, column (3) or

b $3,000

16 (

)

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 42 of the instructions to figure 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.) Caution: Skip this part and complete the worksheet on page 38 of the instructions if:
● Either line 14b, col. (2) or line 14c, col. (2) is more than zero, or
● Both Form 1041, line 2b(1), and Form 4952, line 4g are more than zero.

17
18
19

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)

Roll over/flush left
17

18
19

22

20
Add lines 18 and 19
If the estate or trust is filing Form 4952, enter the
21
©
amount from line 4g; otherwise, enter -0Subtract 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 $2,150
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

20
21

43

25

Subtract line 25 from line 24
Multiply line 26 by 5% (.05)
Are the amounts on lines 22 and 26 the same?
Yes. Skip lines 28 thru 31; go to line 32.
No. Enter the smaller of line 17 or line 22

26

29

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

29

30
31
32

30
Subtract line 29 from line 28
Multiply line 30 by 15% (.15)
Figure the tax on the amount on line 23. Use the 2007 Tax Rate Schedule on page 26 of the
instructions

26
27
28

33
34
35

27
28

Add lines 27, 31, and 32
Figure the tax on the amount on line 17. Use the 2007 Tax Rate Schedule on page 26 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
Printed on recycled paper

31
32
33
34
35

Schedule D (Form 1041) 2007