SCHEDULE D 

(Form 1041)

Department of the Treasury 

Internal Revenue Service

Capital Gains and Losses

Attach to Form 1041, Form 5227, or Form 990-T. 

Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10.

Go to www.irs.gov/Form1041 for instructions and the latest information.

OMB No. 1545-0092

2023

Name of estate or trust Employer identification number 

Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? . . . . . . .

If “Yes,” attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss.

Yes No

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

Part I Short-Term Capital Gains and Losses—Generally Assets Held 1 Year or Less (see instructions) 

See instructions for how to figure the amounts to enter on the 

lines below. 

This form may be easier to complete if you round off cents to 

whole dollars.

(d) 

Proceeds 

(sales price) 

(e) 

Cost 

(or other basis) 

(g) 

Adjustments 

 to gain or loss from 

Form(s) 8949, Part I, 

line 2, column (g)

(h) Gain or (loss) 

Subtract column (e) 

from column (d) and 

combine the result with 

column (g) 

1a Totals for all short-term transactions reported on Form 

1099-B for which basis was reported to the IRS and for 

which you have no adjustments (see instructions). 

However, if you choose to report all these transactions 

on Form 8949, leave this line blank and go to line 1b .

1b Totals for all transactions reported on Form(s) 8949 with 

Box A checked . . . . . . . . . . . . .

2 Totals for all transactions reported on Form(s) 8949 with 

Box B checked . . . . . . . . . . . . .

3 Totals for all transactions reported on Form(s) 8949 with 

Box C checked . . . . . . . . . . . . .

4 Short-term capital gain or (loss) from Forms 4684, 6252, 6781, and 8824 . . . . . . . . . . 4

5 Net short-term gain or (loss) from partnerships, S corporations, and other estates or trusts . . . . 5

6 Short-term capital loss carryover. Enter the amount, if any, from line 9 of the 2022 Capital Loss 

Carryover Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 ( )

7 Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). Enter here and on

Part III, line 17, column (3) . . . . . . . . . . . . . . . . . . . . . . . . . 7

Part II Long-Term Capital Gains and Losses—Generally Assets Held More Than 1 Year (see instructions) 

See instructions for how to figure the amounts to enter on the 

lines below. 

This form may be easier to complete if you round off cents to 

whole dollars.

(d) 

Proceeds 

(sales price) 

(e) 

Cost 

(or other basis) 

(g) 

Adjustments 

 to gain or loss from 

Form(s) 8949, Part II, 

line 2, column (g)

(h) Gain or (loss) 

Subtract column (e) 

from column (d) and 

combine the result with 

column (g) 

8a Totals for all long-term transactions reported on Form 

1099-B for which basis was reported to the IRS and for 

which you have no adjustments (see instructions). 

However, if you choose to report all these transactions 

on Form 8949, leave this line blank and go to line 8b .

8b Totals for all transactions reported on Form(s) 8949 with 

Box D checked . . . . . . . . . . . . .

9 Totals for all transactions reported on Form(s) 8949 with 

Box E checked . . . . . . . . . . . . .

10 Totals for all transactions reported on Form(s) 8949 with 

Box F checked. . . . . . . . . . . . . .

11 Long-term capital gain or (loss) from Forms 2439, 4684, 6252, 6781, and 8824 . . . . . . . . 11

12 Net long-term gain or (loss) from partnerships, S corporations, and other estates or trusts . . . . 12

13 Capital gain distributions . . . . . . . . . . . . . . . . . . . . . . . . . . 13

14 Gain from Form 4797, Part I . . . . . . . . . . . . . . . . . . . . . . . . . 14 

15 Long-term capital loss carryover. Enter the amount, if any, from line 14 of the 2022 Capital Loss 

Carryover Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 ( )

16 Net long-term capital gain or (loss). Combine lines 8a through 15 in column (h). Enter here and on

Part III, line 18a, column (3) . . . . . . . . . . . . . . . . . . . . . . . . . 16

For Paperwork Reduction Act Notice, see the Instructions for Form 1041. Cat. No. 11376V Schedule D (Form 1041) 2023
Schedule D (Form 1041) 2023 Page 2 

Part III Summary of Parts I and II 

Caution: Read the instructions before completing this part. 

(1) Beneficiaries’ 

(see instr.) 

(2) Estate’s 

or trust’s (3) Total 

17 Net short-term gain or (loss) . . . . . . . . . . . . 17 

18 Net long-term gain or (loss): 

a Total for year . . . . . . . . . . . . . . . . . 18a 

b Unrecaptured section 1250 gain (see line 18 of the worksheet) . . 18b 

c 28% rate gain . . . . . . . . . . . . . . . . . 18c 

19 Total net gain or (loss). Combine lines 17 and 18a . . . . . 19 

Note: If line 19, column (3), is a net gain, enter the gain on Form 1041, line 4 (or Schedule A (Form 990-T), Part I, line 4a). If lines 18a and 19, column 

(2), are net gains, go to Part V, and don’t complete Part IV. If line 19, column (3), is a net loss, complete Part IV and the Capital Loss Carryover 

Worksheet, as necessary. 

Part IV Capital Loss Limitation 

20 Enter here and enter as a (loss) on Form 1041, line 4 (or Schedule A (Form 990-T), Part I, line 4c, if a 

trust), the smaller of: 

a The loss on line 19, column (3); or b $3,000 . . . . . . . . . . . . . . . . . . . 20 ( )

Note: If the loss on line 19, column (3), is more than $3,000, or if Form 1041, page 1, line 23 (or Form 990-T, Part I, line 11), is a loss, complete the

Capital Loss Carryover Worksheet in the instructions to figure your capital loss carryover. 

Part V Tax Computation Using Maximum Capital Gains Rates 

Form 1041 filers. Complete this part only if both lines 18a and 19 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 23, is more than zero. 

Caution: Skip this part and complete the Schedule D Tax Worksheet in the instructions if: 

• Either line 18b, column (2), or line 18c, column (2), is more than zero;

• Both Form 1041, line 2b(1), and Form 4952, line 4g, are more than zero; or

• There are amounts on lines 4e and 4g of Form 4952.

Form 990-T trusts. Complete this part only if both lines 18a and 19 are gains, or qualified dividends are included in income in Part I of Form 990-T, 

and Form 990-T, Part I, line 11, is more than zero. Skip this part and complete the Schedule D Tax Worksheet in the instructions if either line 18b, 

column (2), or line 18c, column (2), is more than zero. 

21 Enter taxable income from Form 1041, line 23 (or Form 990-T, Part I, line 11) 21 

22 Enter the smaller of line 18a or 19 in column (2) but not 

less than zero . . . . . . . . . . . . . 22

23 Enter the estate’s or trust’s qualified dividends from 

Form 1041, line 2b(2) (or enter the qualified dividends 

included in income in Part I of Form 990-T) . . . . 23

24 Add lines 22 and 23 . . . . . . . . . . . 24 

25 If the estate or trust is filing Form 4952, enter the 

amount from line 4g; otherwise, enter -0- . . . . 25 

26 Subtract line 25 from line 24. If zero or less, enter -0- . . . . . . . . 26 

27 Subtract line 26 from line 21. If zero or less, enter -0- . . . . . . . . 27 

28 Enter the smaller of the amount on line 21 or $3,000 . . . . . . . . 28 

29 Enter the smaller of the amount on line 27 or line 28 . . . . . . . . 29 

30 Subtract line 29 from line 28. If zero or less, enter -0-. This amount is taxed at 0% . . . . . . . 30

31 Enter the smaller of line 21 or line 26 . . . . . . . . . . . . . 31

32 Subtract line 30 from line 26 . . . . . . . . . . . . . . . . 32

33 Enter the smaller of line 21 or $14,650 . . . . . . . . . . . . . 33

34 Add lines 27 and 30 . . . . . . . . . . . . . . . . . . . 34 

35 Subtract line 34 from line 33. If zero or less, enter -0- . . . . . . . . 35 

36 Enter the smaller of line 32 or line 35 . . . . . . . . . . . . . 36 

37 Multiply line 36 by 15% (0.15) . . . . . . . . . . . . . . . . . . . . . . . . 37 

38 Enter the amount from line 31 . . . . . . . . . . . . . . . . 38 

39 Add lines 30 and 36 . . . . . . . . . . . . . . . . . . . 39 

40 Subtract line 39 from line 38. If zero or less, enter -0- . . . . . . . . 40

41 Multiply line 40 by 20% (0.20) . . . . . . . . . . . . . . . . . . . . . . . . 41

42 Figure the tax on the amount on line 27. Use the 2023 Tax Rate Schedule for Estates 

and Trusts. See the Schedule G instructions in the Instructions for Form 1041 . . 42

43 Add lines 37, 41, and 42 . . . . . . . . . . . . . . . . . . 43

44 Figure the tax on the amount on line 21. Use the 2023 Tax Rate Schedule for Estates 

and Trusts. See the Schedule G instructions in the Instructions for Form 1041 . . 44

45 Tax on all taxable income. Enter the smaller of line 43 or line 44 here and on Form 1041, Schedule G, 

Part I, line 1a (or Form 990-T, Part II, line 2) . . . . . . . . . . . . . . . . . . . . 45

Schedule D (Form 1041) 2023