Capital Gains And Losses - Schedule D (Form 741) - Kentucky Department Of Revenue (Page 2 of 2) in pdf

Schedule D (Form 741) 2016

Page 2

*1600010032*

PART III—SUMMARY OF PARTS I AND II

1. Beneficiaries

2. Estates or Trusts

3. Total

17.

Net short-term gain or (loss) from line 7 ............................................ 17

18. Net long-term gain or (loss) from line 16 ........................................... 18

19. Total net gain or (loss) ..........................................................................19

Enter on Form 741, Schedule M, line 3, the net gain shown on line 19, column 3 above that is not reported on federal

Form 1041. If net (loss) on line 19, column 3 above, complete Part IV.

PART IV—COMPUTATION OF CAPITAL LOSS LIMITATION

20. Enter the smaller of:

(i) The net loss on line 19, column 3; or

(ii) $3,000 ...................................................................................................................................................................... 20 (

)

Enter on Form 741, Schedule M, line 7, any additional loss that is not reported on federal Form 1041.

If the net loss on line 19, column 3, is more than $3,000, complete Part V to determine your capital loss carryover.

PART V—COMPUTATION OF CAPITAL LOSS CARRYOVERS FROM 2016 TO 2017

SECTION A—Computation of Carryover Limit

21. Enter taxable income or (loss) for 2016 from Form 741 ............................................................................................. 21

22. Enter loss from line 20, above, as a positive amount ................................................................................................ 22

23. Adjusted taxable income (combine lines 21 and 22; do not enter less than zero) .................................................. 23

24. Enter the lesser of lines 22 or 23 .................................................................................................................................. 24

SECTION B—Short-Term Capital Loss Carryover

(Complete this section only if there is a loss on line 7, and line 19, column 3.)

25. Enter loss shown on line 7, Schedule D, Part I, as a positive amount ....................................................................... 25

26. Enter gain, if any, from line 16. (If that line is blank or shows a loss, enter zero.) .................................................. 26

27. Enter amount from line 24, above ............................................................................................................................... 27

28. Add lines 26 and 27....................................................................................................................................................... 28

29. Subtract line 28 from line 25. If zero or less, enter zero. This is your short-term capital loss carryover

from 2016 to 2017 .......................................................................................................................................................... 29

SECTION C—Long-Term Capital Loss Carryover

(Complete this section only if there is a loss on line 16 and line 19, column 3.)

30. Enter loss from line 16 as a positive amount ............................................................................................................. 30

31. Enter gain, if any, from line 7, Schedule D, Part I. (If that line is blank or shows a loss, enter zero.) ..................... 31

32. Enter amount from line 24, above ............................................................................................................................... 32

33. Enter amount, if any, from line 25, above ................................................................................................................... 33

34. Subtract line 33 from line 32. If zero or less, enter zero............................................................................................. 34

35. Add lines 31 and 34....................................................................................................................................................... 35

36. Subtract line 35 from line 30. If zero or less, enter zero. This is your long-term capital loss carryover

from 2016 to 2017 .......................................................................................................................................................... 36

Capital Gains And Losses - Schedule D (Form 741) - Kentucky Department Of Revenue Page 2

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