Schedule D

Business, Legal & Accounting Glossary

Definition: Schedule D



Full Definition of Schedule D


Schedule D is an IRS income tax form. Taxpayers use Schedule D to report realized gains and losses from the sale of capital assets, as defined by the IRS. Schedule D must show the date of sale and purchase of the asset. Schedule D must also indicate the cost or adjusted basis of the asset so the proper taxable amount can be calculated. Qualified dividends are also reported on Schedule D. Capital gains under Schedule D can be offset by capital losses up to the IRS preset amount (i.e. in 2007, $3,000 for a married couple filing jointly or $1,500 if married filing separately). Note however that, under Schedule D, a short term capital loss can only offset a short term capital gain, and vice versa. If total capital losses under Schedule D is greater than the IRS preset limit, then any capital loss over such limit (i.e. carryover capital loss) can be carried to the next tax year. Assets listed on Schedule D can be affected by the wash sale rule.


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Schedule D. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 12, 2020 https://payrollheaven.com/define/schedule-d/.
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Schedule D. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/schedule-d/ (accessed: July 12, 2020).
American Psychological Association (APA):
Schedule D. PayrollHeaven.com. Retrieved July 12, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/schedule-d/

Definition Sources


Definitions for Schedule D are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 5th February, 2020 | 1 Views.