SCHEDULE D 

(Form 1120)

Department of the Treasury 

Internal Revenue Service

Capital Gains and Losses

© Attach to Form 1120, 1120-C, 1120-F, 1120-FSC, 1120-H, 1120-IC-DISC, 1120-L, 1120-ND, 1120-PC, 

1120-POL, 1120-REIT, 1120-RIC, 1120-SF, or certain Forms 990-T.

© See separate instructions.

OMB No. 1545-0123

Name Employer identification number

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

(a) Description of property 

(Example: 100 shares of Z Co.)

(b) Date acquired

(mo., day, yr.)

(c) Date sold 

(mo., day, yr.)

(d) Sales price 

(see instructions)

(e) Cost or other 

basis (see

instructions)

(f) Gain or (loss) 

(Subtract (e) from (d))

1 

2 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . . 2 

3 Short-term gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . . . 3 

4 Unused capital loss carryover (attach computation) . . . . . . . . . . . . . . . . 4 ( )

5 Net short-term capital gain or (loss). Combine lines 1 through 4 . . . . . . . . . . . . 5

Part II Long-Term Capital Gains and Losses—Assets Held More Than One Year

6 

7 Enter gain from Form 4797, line 7 or 9 . . . . . . . . . . . . . . . . . . . . . 7 

8 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . . 8 

9 Long-term gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . . . 9 

10 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . 10

11 Net long-term capital gain or (loss). Combine lines 6 through 10 . . . . . . . . . . . . 11

Part III Summary of Parts I and II

12 Enter excess of net short-term capital gain (line 5) over net long-term capital loss (line 11) . . . . 12 

13 Net capital gain. Enter excess of net long-term capital gain (line 11) over net short-term capital loss 

(line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 

14 Add lines 12 and 13. Enter here and on Form 1120, page 1, line 8, or the proper line on other 

returns. If the corporation has qualified timber gain, also complete Part IV . . . . . . . . . 14 

Note. If losses exceed gains, see Capital losses in the instructions.

15 

Part IV Alternative Tax for Corporations with Qualified Timber Gain. Complete Part IV only if the corporation has 

qualified timber gain under section 1201(b). Skip this part if you are filing Form 1120-RIC. See instructions.

15 Enter qualified timber gain (as defined in section 1201(b)(2)) . . . . 

16 Enter taxable income from Form 1120, page 1, line 30, or the applicable 

line of your tax return . . . . . . . . . . . . . . . . 16 

17 Enter the smallest of: (a) the amount on line 15; (b) the amount on line 16; 

or (c) the amount on Part III, line 13 . . . . . . . . . . . . 17 

18 Multiply line 17 by 15% . . . . . . . . . . . . . . . . . . . . . . . . . . 18 

19 Subtract line 13 from line 16. If zero or less, enter -0- . . . . . . 19 

20 Enter the tax on line 19, figured using the Tax Rate Schedule (or applicable tax rate) appropriate for 

the return with which Schedule D (Form 1120) is being filed . . . . . . . . . . . . . . 20 

21 Add lines 17 and 19 . . . . . . . . . . . . . . . . . 21 

22 Subtract line 21 from line 16. If zero or less, enter -0- . . . . . . 22 

23 Multiply line 22 by 35% . . . . . . . . . . . . . . . . . . . . . . . . . . 23 

24 Add lines 18, 20, and 23 . . . . . . . . . . . . . . . . . . . . . . . . . 24 

25 Enter the tax on line 16, figured using the Tax Rate Schedule (or applicable tax rate) appropriate for 

the return with which Schedule D (Form 1120) is being filed . . . . . . . . . . . . . . 25 

26 Enter the smaller of line 24 or line 25. Also enter this amount on Form 1120, Schedule J, line 2, or 

the applicable line of your tax return . . . . . . . . . . . . . . . . . . . . . 26 

For Paperwork Reduction Act Notice, see the Instructions for Form 1120. Cat. No. 11460M Schedule D (Form 1120) (2009)

2009