Schedule D-1 - Sales Of Business Property - 2015

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STATE OF HAWAII — DEPARTMENT OF TAXATION

Sales of Business Property

Schedule

(Also Involuntary Conversions and Recapture Amounts Under

2015

D-1

IRC Sections 179 and 280F(b)(2))



To be filed with Form N-15, N-20, N-30, N-35, N-40, etc. – See separate instructions, including those for N-11 or N-15

(Rev. 2015)

CAUTION: Do not confuse this schedule with the federal Schedule D-1.

Name(s) as shown on tax return

Social Security Number or Federal Employer I.D. No.

Sales or Exchanges of Property Used in a Trade or Business and Involuntary Conversions From Other Than

Part I

Casualty and Theft – Most Property Held More Than 1 Year



Notes:

Use federal Form 4684 to report involuntary conversions from casualty and theft.



File federal Form 6198 if you are reporting a loss and have amounts invested in the activity for which you are not at risk.

(See Instructions under “At-Risk Rules”)



Complete federal Form 8582 before you complete Schedule D-1 if you are reporting a loss from a passive activity.

(See Instructions under “Passive Loss Limitations”)

1 Enter the gross proceeds from sales or exchanges reported to you for 2015 on federal Form(s) 1099-B

or 1099-S (or a substitute statement) that you will be including on line 2 (Column d), line 11 (Column d), or line 21. .

(e) Depreciation

(f) Cost or other

(a) Description of

(b) Date acquired

(d) Gross sales

allowed

basis, plus

(g) LOSS

(h) GAIN (d) plus (e)

property

(mo., day, yr.)

price

(or allowable)

improvements and

(f) minus the

minus (f)

since acquisition

expense of sale

sum of (d) and (e)

3 Gain, if any, from federal Form 4684, line 39 ............................................................................................

4 IRC section 1231 gain from installment sales from federal Form 6252, line 26 or 37 ..............................

5 IRC section 1231 gain or (loss) from like-kind exchanges from federal Form 8824 .................................

6 Gain, if any, from Part III, line 33, from other than casualty or theft .........................................................

(

)

7 Add lines 2 through 6 in columns (g) and (h) ...........................................................................................

8 Combine columns (g) and (h) of line 7. Enter gain or (loss) here, and on the appropriate line as follows: Partnerships

on N-20, Sch. K, line 10; S corps on N-35, Sch. K, line 9. Skip lines 9, 10, 12 & 13. ...........................................................

If line 8 is zero or a loss, enter the amount on line 12 below and skip lines 9 and 10. If line 8 is a gain and you did not have any prior year IRC

section 1231 losses, or they were recaptured in an earlier year, enter the gain as a long-term capital gain on Schedule D for your return or on the

Capital Gain/Loss Worksheet in the Form N-11 Instructions or in the Form N-15 Instructions and skip lines 9, 10, 12, and 13, below.

9 Nonrecaptured net IRC section 1231 losses from prior years (see Instructions) ..................................................................

10 Line 8 minus line 9. If zero or less, enter zero ......................................................................................................................

If line 10 is zero, enter the amount from line 8 on line 13 below. If line 10 is more than zero, enter the amount from line 9 on line 13 below, and enter the amount from line 10 as a long-term

capital gain on Schedule D for your return or on the Capital Gain/Loss Worksheet in the Form N-11 Instructions or in the Form N-15 Instructions. (See specific Instructions for line 10.)

Part II

Ordinary Gains and Losses

11 Ordinary gains and losses not included on lines 12 through 17 (include property held 1 year or less)

12 Loss, if any, from line 8 .............................................................................................................................

13 Gain, if any, from line 8, or amount from line 9 if applicable ...................................................................

14 Gain, if any, from Part III, line 32 ..............................................................................................................

15 Net gain or (loss) from federal Form 4684, lines 31 and 38a ...................................................................

16 Ordinary gain from installment sales from federal Form 6252, line 25 or 36 ............................................

17 Ordinary gain or (loss) from like-kind exchanges from federal Form 8824 ...............................................

(

)

18 Add lines 11 through 17 in columns (g) and (h) .......................................................................................

19 Combine columns (g) and (h) of line 18. Enter gain or (loss) here, and on the appropriate line as follows: ....................

a For all except individual returns: Enter the gain or (loss) from line 19, on the return being filed. (Form N-30, etc.)

b For individual return, Form N-15, see below. See instructions for Form N-11.

(1) If the loss on line 12 includes a loss from federal Form 4684, line 35, column (b) (ii), enter that part of the loss here.

Enter the part of the loss from income-producing property on Worksheet A-6, line 30, in the Form N-11

Instructions or on Worksheet NR-6, line 31 or 32, or on Worksheet PY-6, line 57 or 58 in the Form N-15 Instructions;

and the part of the loss from property used as an employee on Worksheet A-6, line 25, on Worksheet NR-6,

line 25 or 26, or on Worksheet PY-6, line 48 or 49. Identify as from “Schedule D-1, line 19b(1).” ........................

19b(1)

(2) Redetermine the gain or (loss) on line 19, excluding the loss (if any) on line 19b(1). Enter here and on

19b(2)

Form N-15, line 14 .................................................................................................................................................

Schedule D-1