Internal Revenue Service (IRS) · United States (federal)
Schedule D (Form 1040): Capital Gains and Losses
Current revision: Tax year 2025 (checked on irs.gov, Oct 28, 2026)
Fill in IRS Schedule D (tax year 2025): short- and long-term totals from Form 8949, 1099-B and 1099-DA, loss carryovers and the $3,000 loss limit.
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Form
Schedule D (Form 1040)
- Issued by
- Internal Revenue Service (IRS)
- Applies in
- United States (federal)
- Edition
- Tax year 2025
Official source
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What it is
What Form Schedule D (Form 1040) is for
Schedule D totals your capital gains and losses — from stocks, funds, digital assets and other capital assets — after you list individual sales on Form 8949. It separates short-term sales (held one year or less) from long-term ones, applies loss carryovers, and limits a net loss to $3,000 a year ($1,500 married filing separately). The PDF irs.gov posts is the 2025 edition, which added codes G–L for digital asset sales reported on the new Form 1099-DA; the 2026 version usually appears in December–January.
Schedule D (Form 1040) deadlines, 2027 filing season
File with your 2026 Form 1040 or 1040-SR (or request an extension with Form 4868) Source: irs.gov
File with an extended 2026 return if you filed Form 4868 by April 15 Source: irs.gov
Dates already move past weekends and DC holidays, as the IRS rule says. Checked against irs.gov on October 28, 2026. See the full 2027 tax calendar.
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Who files it
- Investors who sold stocks, bonds, mutual funds or ETFs
- People who sold or exchanged digital assets reported on Form 1099-DA
- Partners, S corporation shareholders and beneficiaries with capital gains on a Schedule K-1
- Taxpayers with a capital loss carryover from 2024
- Home sellers with a taxable gain
What you need
- Forms 1099-B and 1099-DA from brokers and exchanges
- Completed Form 8949 for sales that need adjustments or weren't reported with basis
- Purchase dates and cost basis for each sale
- Last year's return for the Capital Loss Carryover Worksheet
- Schedules K-1 and Form 1099-DIV (capital gain distributions)
Line by line
How to fill out Form Schedule D (Form 1040)
- 1
Top — Qualified opportunity fund
Answer whether you disposed of any investment in a qualified opportunity fund. If yes, attach Form 8949 and follow its extra requirements.
- 2
Part I — Short-term (lines 1a–7)
Line 1a takes totals from 1099-B or 1099-DA where basis was reported to the IRS and nothing needs adjusting. Lines 1b, 2 and 3 take Form 8949 totals for boxes A/G, B/H and C/I. Add gains from other forms and K-1s (lines 4–5), subtract any carryover on line 6, and net on line 7.
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Part II — Long-term (lines 8a–15)
Same pattern: line 8a for basis-reported sales with no adjustments, lines 8b, 9 and 10 for Form 8949 boxes D/J, E/K and F/L, then Form 4797 and K-1 amounts, capital gain distributions (13) and carryover (14). Line 15 is the net.
- 4
Line 16 — Combine
Add lines 7 and 15. A gain goes to Form 1040, 1040-SR or 1040-NR, line 7a; a loss goes to line 21.
- 5
Lines 17–20 — Which tax worksheet
If lines 15 and 16 are both gains, complete the 28% Rate Gain and Unrecaptured Section 1250 Gain worksheets if required, then line 20 tells you which tax worksheet to use.
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Lines 21–22 — Loss limit and dividends
Line 21 is the smaller of the loss or $3,000 ($1,500 MFS). Line 22 sends you to the Qualified Dividends and Capital Gain Tax Worksheet if you had qualified dividends.
Common Schedule D (Form 1040) mistakes
- Deducting a loss on a personal-use asset such as your home or car; those losses aren't deductible, although a home sale reported on Form 1099-S still goes on Form 8949.
- Deducting a wash-sale loss — stock or securities rebought within 30 days before or after a loss sale; box 1g of Form 1099-B or box 1i of Form 1099-DA usually shows it.
- Filling lines 1b, 2, 3, 8b, 9 or 10 before completing Form 8949.
- Forgetting last year's capital loss carryover on lines 6 and 14.
Where to send it
Attach Schedule D, and Form 8949 if you used it, to Form 1040, 1040-SR or 1040-NR and file them together — by e-file or at the paper-return address for your state (https://www.irs.gov/filing/where-to-file-paper-tax-returns-with-or-without-a-payment). 2026 returns are due April 15, 2027, or October 15, 2027 with Form 4868 (June 15, 2027 for Form 1040-NR filers without wages).
Filing rules change. Confirm the address or portal on irs.gov before you send.
Form Schedule D (Form 1040): questions people ask
Which year is this Schedule D for?
The PDF irs.gov posts today is for tax year 2025; the 2026 version usually appears in December–January, and until then this page opens whatever irs.gov posts. Use the edition that matches the year you sold.
Do I always need Form 8949?
No. Sales on Form 1099-B or 1099-DA where basis was reported to the IRS and no adjustment is needed can go straight on line 1a or 8a as totals (collectibles are an exception).
How much of a loss can I deduct?
Up to $3,000 ($1,500 married filing separately) against other income each year. The rest carries over; the instructions have a worksheet to figure it next year.
How do I report crypto?
Digital asset sales reported on Form 1099-DA go on Form 8949 with the new boxes G through L, and their totals on Schedule D lines 1b, 2, 3, 8b, 9 and 10.
I only had capital gain distributions. Do I need Schedule D?
Not always. If you aren't required to file it, report them on Form 1040, line 7a and check the “Schedule D not required” box on line 7b.