Capital Loss Carryover Worksheet Form – Fill Out and Use This PDF

Column (d) — Sales Price

Enter in this column either the gross sales price or the net sales price from the sale. If you sold stocks or bonds and you received a Form 1099-B (or substitute statement) from your broker that shows gross sales price, enter that amount in column (d). But if Form 1099-B (or substitute statement) indicates that gross proceeds minus com- missions and option premiums were re- ported to the IRS, enter that net amount in column (d). If you enter the net amount in column (d), do not include the commis- sions and option premiums from the sale in column (e).

You should not have received a Form 1099-B (or substitute statement) for a trans- action merely representing the return of your original investment in a nontransfer- able obligation, such as a savings bond or a certificate of deposit. But if you did, report the amount shown on Form 1099-B (or substitute statement) in both columns (d) and (e).

Be sure to add all sales price entries on lines 1 and 8, column (d), to amounts on lines 2 and 9, column (d). Enter the totals on

lines 3 and 10.

Column (e) — Cost or Other Basis

In general, the cost or other basis is the cost of the property plus purchase commissions and improvements, minus depreciation, amortization, and depletion. If you inher- ited the property, got it as a gift, or received it in a tax-free exchange, involuntary con- version, or “wash sale” of stock, you may not be able to use the actual cost as the basis. If you do not use the actual cost, attach an explanation of your basis.

If you sold stock, adjust your basis by subtracting all the nondividend distribu- tions you received before the sale. Also adjust your basis for any stock splits. See Pub. 550 for details.

If you elected to recognize gain on an asset held on January 1, 2001, your basis in the asset is its closing market price or fair market value, whichever applies, on the date of the deemed sale and reacquisition, whether the deemed sale resulted in a gain or an unallowed loss.

You may elect to use an average basis for all shares of a mutual fund (or other regulated investment company) if you ac- quired the shares at various times and prices and you left the shares on deposit in an account handled by a custodian or agent who acquired or redeemed those shares. If you are reporting an average basis, include “AVGB” in column (a) of Schedule D. For

details on making the election and how to figure average basis, see Pub. 550.

The basis of property acquired by gift is generally the basis of the property in the hands of the donor. The basis of property acquired from a decedent who died before 2010 is generally the fair market value at the date of death. See Pub. 551 for details. If you sold property that you inherited from someone who died after 2009, see Pub. 4895.

Increase the cost or other basis of an original issue discount (OID) debt instru- ment by the amount of OID that has been included in gross income for that instru- ment. See Pub. 550 for details.

If a charitable contribution deduction is allowed because of a bargain sale of prop- erty to a charitable organization, the ad- justed basis for purposes of determining gain from the sale is the amount that has the same ratio to the adjusted basis as the amount realized has to the fair market value. See Pub. 544 for details.

Increase your cost or other basis by any expense of sale, such as broker’s fees, com- missions, state and local transfer taxes, and option premiums, before making an entry in column (e), unless you reported the net sales price in column (d).

For more details, see Pub. 551.