Introduction

Your Federal Income Tax

Introduction

This is archived information that pertains only to the 2001 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

This chapter discusses how to report capital gains and losses from sales, exchanges, and other dispositions of investment property on Schedule D of Form 1040. The discussion includes:

How to report short-term gains and losses,
How to report long-term gains and losses,
How to figure capital loss carryovers,
How to figure your tax using the lower tax rates on a net capital gain, and
An illustrated example of how to complete Schedule D.

If you sell or otherwise dispose of property used in a trade or business or for the production of income, see Publication 544, Sales and Other Dispositions of Assets, before completing Schedule D.

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