Line 7
Capital Gain or (Loss)
| If you sold a capital asset, such as a stock or bond, you must complete and attach Form 8949 and Schedule D. | |||||
| EXCEPTION 1 You do not have to file Form 8949 or Schedule D if you are not deferring any capital gain by investing in a qualified opportunity fund and both of the following apply. |
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| 1. | You have no capital losses, and your only capital gains are capital gain distributions from Form(s) 1099-DIV, box 2a (or substitute statements); and | ||||
| 2. | None of the Form(s) 1099-DIV (or substitute statements) have an amount in box 2b (unrecaptured section 1250 gain), box 2c (section 1202 gain), or box 2d (collectibles (28%) gain). | ||||
| EXCEPTION 2 You must file Schedule D but generally don’t have to file Form 8949 if Exception 1 doesn't apply, you are not deferring any capital gain by investing in a qualified opportunity fund or terminating deferral from an investment in a qualified opportunity fund, and your only capital gains and losses are: |
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| • | Capital gain distributions; | ||||
| • | A capital loss carryover from 2023; | ||||
| • | A gain from Form 2439 or 6252 or Part I of Form 4797; | ||||
| • | A gain or loss from Form 4684, 6781, or 8824; | ||||
| • | A gain or loss from a partnership, S corporation, estate, or trust; or | ||||
| • | Gains and losses from transactions for which you received a Form 1099-B (or substitute statement) that shows basis was reported to the IRS, the QOF box in box 3 is not checked, and you don’t need to make any adjustments in column (g) of Form 8949 or enter any codes in column (f) of Form 8949. | ||||
| If Exception 1 applies, enter your total capital gain distributions (from box 2a of Form(s) 1099-DIV) on line 7 and check the box on that line. If you received capital gain distributions as a nominee (that is, they were paid to you but actually belong to someone else), report on line 7 only the amount that belongs to you. Include a statement showing the full amount you received and the amount you received as a nominee. See the Schedule B instructions for filing requirements for Forms 1099-DIV and 1096. | |||||
| • | TAX TIP. If you do not have to file Schedule D, use the Qualified Dividends and Capital Gain Tax Worksheet in the line 16 instructions to figure your tax. | ||||
Compiled and edited July 28, 2025 by administrator.
Last reviewed or updated 10:17 AM 8/23/2025 by administrator.