This is archived information that pertains only to the 2006 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

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:

Under “Part II: Long-Term Capital Gains and Losses--Assets Held More Than One Year”:

“8a. Description of property (Example: 100 shares XYZ Company)” field contains main home

“8b. Date acquired (month, day, year)” field contains 3/5/63

“8c. Date sold (month, day, year)” field contains 2/5/05

“8d. Sales price (see page D-6 of the instructions)” field contains 695,000

“8e. Cost or other basis (see page D-6 of the instructions)” field contains 42,250

“8f. Gain or (loss) Subtract (e) from (d)” field contains 652,750

“8a. Description of property (Example: 100 shares X.Y.Z. Company)” field contains section 121 exclusion

“8f. Gain or (loss) Subtract (e) from (d)” field contains negative 500,000

“10. Total long-term sales price amounts. Add lines 8 and 9 in column (d)” field contains 695,000

“16. Net long-term capital gain or (loss). Combine lines 8 through 14 in column (f)” field contains 152,750