SCHEDULE D (Form 1040) Capital Gains and Losses 2005. Summary: This is an example of Schedule D (Form 1040) 2005 as pertains to the example in the text. The line items completed
are:
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Under
“Part II: Long-Term Capital Gains and Losses--Assets Held More Than One Year”:
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“8a. Description of property (Example: 100 shares XYZ Company)” field contains main home
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“8b. Date acquired (month, day, year)” field contains 3/5/63
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“8c. Date sold (month, day, year)” field contains 2/5/05
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“8d. Sales price (see page D-6 of the instructions)” field contains 695,000
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“8e. Cost or other basis (see page D-6 of the instructions)” field contains 42,250
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“8f. Gain or (loss) Subtract (e) from (d)” field contains 652,750
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“8a. Description of property (Example: 100 shares X.Y.Z. Company)” field contains section 121 exclusion
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“8f. Gain or (loss) Subtract (e) from (d)” field contains negative 500,000
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“10. Total long-term sales price amounts. Add lines 8 and 9 in column (d)” field contains 695,000
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“16. Net long-term capital gain or (loss). Combine lines 8 through 14 in column (f)” field contains
152,750
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