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    • Home
    • About Us
    • Personal Taxes
      • 1040 Income Tax Return
      • Schedule A
      • Schedule D
    • Business Taxes
      • Crypto Taxes
      • Limited Liability Company
      • 1065 Partnership Return
      • 1120 S Corporation Return
      • 990 Non Profit Tax Return
      • Real Estate Investment
    • Specialty Taxes
      • Death Tax Return Process
      • 1041 Bankruptcy Taxes
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  • Personal Taxes
    • 1040 Income Tax Return
    • Schedule A
    • Schedule D
  • Business Taxes
    • Crypto Taxes
    • Limited Liability Company
    • 1065 Partnership Return
    • 1120 S Corporation Return
    • 990 Non Profit Tax Return
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    • Death Tax Return Process
    • 1041 Bankruptcy Taxes
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Form Schedule D

For Schedule is used for recording the buying  and selling of capital  assets. These assets include:

  1. Stocks
  2. Mutual Funds
  3. Home Sales
  4. Digital Currency

To name a few. Gain or loss is reported on this schedule.

Form Schedule D the Recording of Capital Assets

What are Capital Assets?

Tangible and intangible property held for personal use or investment purposes. When property or investments are sold for tax purposes it is recorded as a Capital Gain or Capital Loss.  If the object is held for one year or longer it is taxed as capital gain a more advantageous tax bracket than Capital assets held less than a year taxed as short term capital gains or ordinary income taxes.

Selling a Home

When a tax payer sales his or her home the profit is recorded as a capital gain or loss and is recorded using a Schedule D.

Digital Currency

Digital Currency is the new name for virtual currency.  Digital currency is a decentralized fiat currency created in a digital format by and within a computer system on what is considered a block chain.  The block chain is a digital chain like a chain gang linked together.  To access you need a digital key.  You need a digital wallet to store your digits. Digital currencies are taxes  as Capital Gains when bought and sold on the exchange.  However if you use your digital dollars to purchase groceries or a cup of coffee,  That is considered a short term distribution and is taxed like a short term capital gain.    If you work for someone who pays you in digital dollars you will pay regular income taxes as if someone had paid you in dollar bills.

Recording Capital Gains on Form Schedule D

Investing

Digital Currency

Selling a Home

Selling a Home

Digital Currency

Selling a Home

Digital Currency

Digital Currency

Digital Currency

The Tax Information Knowledge Center Brochures

Capital Gains or Losses (pdf)

Download

Sale of Principal Home (pdf)

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Virtual/Digital Currency (pdf)

Download
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