Federal housing law
Form 1120-S (Schedule D) — Capital Gains and Losses and Built-In Gains
Federal housing law as enacted — verbatim and citable.
- Edition
- 2026-10-03
- Last updated
- 2026-10-04
- Jurisdiction
- United States
Official source: IRS Forms, Instructions & Publications (https://www.irs.gov/pub/irs-pdf/f1120ssd.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).
SCHEDULE D (Form 1120-S)
Department of the Treasury Internal Revenue Service
Capital Gains and Losses and Built-in Gains¶
Attach to Form 1120-S. Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10. Go to www.irs.gov/Form1120S for instructions and the latest information.
OMB No. 1545-0123
2025¶
Name Employer identification number
Did the corporation dispose of any investment(s) in a qualified opportunity fund during the tax year? . . . . . . Yes No If “Yes,” attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss.
Part I Short-Term Capital Gains and Losses—Generally Assets Held One Year or Less (see instructions)
| See instructions for how to figure the amounts to enter on the lines below. This form may be easier to complete if you round off the cents to whole dollars. |
(d) Proceeds (sales price) |
(e) Cost (or other basis) |
(g) Adjustments to gain or loss from Form(s) 8949, Part I, line 2, column (g) |
(h) Gain or (loss) Subtract column (e) from column (d) and combine the result with column (g) |
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|---|---|---|---|---|---|
| 1a Totals for all short-term transactions reported on Form 1099-B or Form 1099-DA for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 1b . . . . . |
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| 1bTotals for all transactions reported on Form(s) 8949 withBox A orBox G checked . . . . . . . . |
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| 2 Totals for all transactions reported on Form(s) 8949 withBox B orBox H checked . . . . . . . . |
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| 3 Totals for all transactions reported on Form(s) 8949 withBox C orBox I checked . . . . . . . . |
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| 4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 | |
| 4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
5 | |
| 4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
6 | ( ) |
| 4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 6 Tax on short-term capital gain included on line 23 below . . . . . . . . . . . . . . . **7 ** **Net short-term capital gain or (loss).**Combine lines 1a through 6 in column (h). Enter here and on Form 1120-S, Schedule K, line 7 or 10 . . . . . . . . . . . . . . . . . . . . . |
7 |
Part II Long-Term Capital Gains and Losses—Generally Assets Held More Than One Year (see instructions)
| See instructions for how to figure the amounts to enter on the lines below. This form may be easier to complete if you round off the cents to whole dollars. |
(d) Proceeds (sales price) |
(e) Cost (or other basis) |
(g) Adjustments to gain or loss from Form(s) 8949, Part II, line 2, column (g) |
(h) Gain or (loss) Subtract column (e) from column (d) and combine the result with column (g) |
|
|---|---|---|---|---|---|
| 8a Totals for all long-term transactions reported on Form 1099-B or Form 1099-DA for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 8b . . . . . |
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| 8bTotals for all transactions reported on Form(s) 8949 withBox D orBox J checked . . . . . . . . |
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| 9 Totals for all transactions reported on Form(s) 8949 withBox E orBox K checked . . . . . . . . |
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| 10 Totals for all transactions reported on Form(s) 8949 withBox F orBox L checked . . . . . . . . |
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| 11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 | |
| 11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
12 | |
| 11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
13 | |
| 11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
14 | ( ) |
| 11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . 12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . 13 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . . . . 14 Tax on long-term capital gain included on line 23 below . . . . . . . . . . . . . . . 15 **Net long-term capital gain or (loss).**Combine lines 8a through 14 in column (h). Enter here and on Form 1120-S, Schedule K, line 8a or 10 . . . . . . . . . . . . . . . . . . . . . |
15 |
For Paperwork Reduction Act Notice, see the Instructions for Form 1120-S. Cat. No. 11516V Schedule D (Form 1120-S) 2025 Created 2/14/25
Schedule D (Form 1120-S) 2025 Page 2
Part III Built-in Gains Tax (See instructions before completing this part.)
16 Excess of recognized built-in gains over recognized built-in losses (attach computation statement) . 16 17 Taxable income (attach computation statement) . . . . . . . . . . . . . . . . . . 17 18 Net recognized built-in gain. Enter the smallest of line 16, line 17, or line 8 of Schedule B . . . . 18 19 Section 1374(b)(2) deduction . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Subtract line 19 from line 18. If zero or less, enter -0- here and on line 23 . . . . . . . . . . 20 21 Enter 21% (0.21) of line 20 . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 Section 1374(b)(3) business credit and minimum tax credit carryforwards from C corporation years . 22 23 Tax. Subtract line 22 from line 21 (if zero or less, enter -0-). Enter here and on Form 1120-S, page 1, line 23b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Schedule D (Form 1120-S) 2025