The penalty for late filing of IRS Schedule D form depends on whether you owe taxes or are expecting a refund. If you owe taxes: - The penalty for filing after the deadline but within 60 days is $330 or 100% of the unpaid tax amount, whichever is smaller. - If you file more than 60 days after the deadline, the minimum penalty is $435 (adjusted annually for inflation) or 100% of the unpaid tax, whichever is smaller. If you expect a refund: - There is no penalty for filing after the deadline. However, if you don't file within three years of the original due date, you forfeit any refund you may have been entitled to. It's important to note that penalties can accumulate if you also fail to pay the taxes owed on time. It's always best to file your taxes and any associated forms on time to avoid penalties.