IRS Form Schedule D

Form Schedule D: Capital Gains and Losses

A plain-English guide to IRS Form Schedule D — what it's for, who files it, when it's due, and how to complete it.

Form numberSchedule D
Official nameCapital Gains and Losses
CategoryIndividual
Typically dueWith Form 1040 (April 15)
Official IRS Form Schedule D (PDF)

What is Form Schedule D?

Schedule D summarizes your capital gains and losses from selling investments and other assets, splitting them into short-term and long-term. It works together with Form 8949.

Schedule D nets your gains and losses into a single number. The holding period is everything: cross the one-year line and a short-term gain (taxed at ordinary rates) becomes a long-term gain (taxed at 0/15/20%). On a $10,000 gain, waiting a few extra weeks to hit long-term can save thousands.

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Who files it

Taxpayers who sold stocks, crypto, real estate or other capital assets during the year.

When it's due

Form Schedule D is generally due With Form 1040 (April 15). Deadlines can move for weekends and holidays, so confirm the exact date for the current year on IRS.gov.

Key lines and parts

Here's what you'll actually fill in on Form Schedule D:

  • Part I — short-term gains and losses
  • Part II — long-term gains and losses
  • Part III — summary and capital loss carryover

How to file

List transactions on Form 8949, total them on Schedule D, and carry the net gain or loss to your 1040. Net losses up to $3,000 can offset ordinary income.

Common mistakes & penalties

Brokerages don't always report cost basis for older or transferred shares, and a missing basis makes the IRS treat your entire sale as gain. Check every 8949 line for basis, and watch the wash-sale rule if you sold at a loss and rebought quickly.
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Frequently asked questions

What is IRS Form Schedule D?

Schedule D summarizes your capital gains and losses from selling investments and other assets, splitting them into short-term and long-term. It works together with Form 8949.

Who has to file Form Schedule D?

Taxpayers who sold stocks, crypto, real estate or other capital assets during the year.

When is Form Schedule D due?

Form Schedule D is generally due With Form 1040 (April 15). Always confirm the current year's date on IRS.gov, since deadlines shift for weekends and holidays.

What's the most common mistake with Form Schedule D?

Brokerages don't always report cost basis for older or transferred shares, and a missing basis makes the IRS treat your entire sale as gain. Check every 8949 line for basis, and watch the wash-sale rule if you sold at a loss and rebought quickly.