Form Cg - Idaho Capital Gains Deduction - 2015 Page 3
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EFO00093p3
07-01-15
Specific Instructions
Line 1. List qualifying capital gains and losses. Don't
Line 5. Enter your distributive share of qualifying capital gain
include gains and losses reported on lines 2 through 5.
or loss from partnerships, S corporations, trusts, and estates.
If filing Form 40, enter the amount shown from Form ID K-1,
Column a Describe the type of property. Identify the Idaho
Part B, line 9. If filing Form 43, enter the amount of qualified
location at the date of sale.
gains or losses included on Form 43, line 27; this is usually
the amount from Form ID K-1, Part B, line 9 multiplied by
Column b Identify the month, day, and year the property
percentage shown on Form ID K-1, Part A, line 2.
was acquired.
Column a Describe the type of property. Identify the Idaho
Column c
Identify the month, day, and year the property
location at the date of sale.
was sold.
Column b Identify the month, day, and year the property
Column d Enter the sales price.
was acquired.
Column e Enter the cost or other basis. Basis is computed
Column c
Identify the month, day, and year the property
under the appropriate provisions of the Internal
was sold.
Revenue Code.
Column d Enter the EIN of the pass-through entity.
Column f
Compute your gain or loss by subtracting your
basis (column e) from the sales price (column
Column e Enter your distributive share of gain or loss.
d).
Line 6. Enter the total of gains and losses in column f for
Line 2. Enter the taxable gain from the sale of your Idaho
lines 1 through 4, and column e, line 5.
home, from federal Schedule D. If you are reporting a gain
that qualifies from previous installment sales, see line 3.
Line 7. Enter the total qualifying capital loss carryover from
the prior year's return.
Line 3. If you used federal Form 6252 to report the
installment method for the gain on the sale of eligible
Line 9. If line 8 is a gain, enter 60% of line 8. If line 8 is a
property on your federal return, compute your capital gains
loss, you can't claim this deduction.
deduction using the current year's taxable portion of the
installment payment. Include federal Form 6252. Capital
Line 10. Enter your capital gain net income included in
gain from an installment sale isn't eligible for the Idaho
federal adjusted gross income. This is the capital gain from
capital gains deduction if the property wasn't held for the
federal Form 1040, line 13. If you have a capital loss,
minimum holding period by the date sold.
enter 0.
Line 4. Enter the eligible capital gain net income from
Line 11. Compare lines 9 and 10. Enter the smaller amount
federal Form 4797. Don't include ordinary gains reported on
here and on Form 39R, Part B, line 10, or Form 39NR, Part
federal Form 4797, Part II.
B, line 6. This is your Idaho capital gains deduction.
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