Schedule D (Form 1065) – Capital Gains and Losses

Last reviewed: 2025-10-25

Use the Form 1065sd: Schedule D (Form 1065) – Capital Gains and Losses Tax Form Calculator Form 1065sd: Schedule D (Form 1065) – Capital Gains and Losses as a stand alone tax form calculator to quickly calculate specific amounts for your 2026 1065sd state tax return. Alternatively, you can use one of our Combined Federal and State Tax Estimators to quickly calculate your salary, tax, and take-home pay.

Use Schedule D (Form 1065sd) to compute the partnership's net capital gain or loss for 2026. This calculator mirrors the current IRS layout and automatically totals short-term gains/losses, long-term amounts, collectibles (28%), and unrecaptured section 1250 gain. Results flow to Schedule K and ultimately into each partner's Schedule K-1.

How to use: Enter proceeds and basis detail on Form 8949 (if required) and carry the subtotals to the lines below. Enter carryovers, section 1231 items, and other adjustments where indicated. Read-only fields are computed totals. All figures are rounded to two decimals on output.

Key concepts: Short-term (≤12 months) and long-term (>12 months) items are kept separate; collectibles may be subject to a 28% rate at the partner level; unrecaptured §1250 gain retains its character for partners; certain losses may be limited and carried forward.

Schedule D (Form 1065) – Capital Gains and Losses
1	Short-term capital gains	1
2	Short-term capital losses	2
3	Long-term capital gains	3
4	Long-term capital losses	4
5	Collectibles (28%) gain (loss)	5
6	Unrecaptured section 1250 gain	6
7	Total gains (losses). Add lines 1 through 6	7
8	Capital loss carryover to this year	8
9	Section 1231 gains	9
10	Section 1231 losses	10
11	Other adjustments (attach statement)	11
12	Section 1202 exclusion and similar adjustments	12
13	Total adjustments. Add lines 8 through 12	13
14	Net capital gain (loss). Subtract line 13 from 7	14
15	Capital gain from Form 4797 or other source adjustments	15
16	Capital loss disallowed/limitation adjustments	16
17	Net capital gain (loss) for Schedule K. Add lines 14 through 16	17

Filing notes for 2026: If the partnership disposed of depreciated real property, compute any unrecaptured §1250 gain. Report §1231 gains and losses separately; netting rules may recharacterize amounts. If wash sale, related-party, or at-risk/passive limits apply, attach supporting schedules. Maintain reconciliation between Form 8949 category codes and Schedule D totals.

Capital loss carryovers may be limited at the partnership level and do not pass through unless specified by the Code. Ensure consistency with Schedules L, M-1/M-3, and partner capital reporting.

Last reviewed: 2025-10-25: If you believe this form requires an update, please contact us.

Purpose of Schedule D (Form 1065sd)

Schedule D aggregates the partnership's capital transactions for the year, applying ordering and character rules before passing items through to partners. Accurate completion ensures correct partner-level taxation, including preferred long-term rates, the 28% collectibles rate, and unrecaptured §1250 treatment.

When applicable, summarize detailed transactions on Form 8949 and retain brokerage statements, allocation workpapers, and depreciation records supporting §1250 amounts. Coordinate these entries with Schedule K-1, box 9 (capital gains/losses) and any footnotes supplied to partners.

Frequently Asked Questions

Can I estimate the General Business Credit?

Start with Form 3800 and then reflect the credit here.

How much would a 401(k) contribution change my net?

Model it with the 401(k) Calculator then rerun this page with your pre-tax amount.

Considering an IRS Offer in Compromise?

Read through Form 656-B to understand eligibility and steps.

What does FICA include?

FICA includes Social Security and Medicare payroll taxes withheld from employee wages.

Is there a quick pay-frequency comparison?

Yes—switch frequency on this page; for employer filings see 941 vs 944.

Important Notes

All calculations are estimates for guidance only. Always review your return and consider professional advice when submitting official filings.