Form N-20 - Schedule D - Capital Gains And Losses - 2015

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STATE OF HAWAII—DEPARTMENT OF TAXATION
SCHEDULE D
2015
Capital Gains and Losses
FORM N-20
(REV. 2015)
To be filed with Form N-20
Name of Partnership
Federal Employer I.D. No.
Part I
Short-Term Capital Gains and Losses — Assets Held 1 Year or Less
(a) Description of property
(e.g., 100 shares
(b) Date acquired
(c) Date sold
(d) Sales price
(e) Cost or other basis
(f) Gain or (loss)
of “Z” Co.)
(month, day, year)
(month, day, year)
(See Instructions.)
(See Instructions.)
(column (d) minus column (e))
1
2 Short-term capital gain from installment sales from federal Form 6252 .............................................................................
2
3 Short-term capital gain (loss) from like-kind exchanges from federal Form 8824 ..............................................................
3
4 Partnership’s share of net short-term capital gain (loss), including specially allocated short-term capital gains (losses),
from other partnerships, estates, and trusts ........................................................................................................................
4
5 Short-term gain from stock acquired through stock options from qualified high technology businesses ...........................
5
(
)
6 Section 235-7(a)(14), HRS, short-term gain (See Instructions.) .........................................................................................
6
(
)
7 Net short-term capital gain or (loss). Add lines 1 through 6 in column (f). Enter here and on Schedule K (Form N-20),
line 8 or 11 ...........................................................................................................................................................................
7
Part II
Long-Term Capital Gains and Losses — Assets Held More Than 1 Year
8
9 Long-term capital gain from installment sales from federal Form 6252 ..............................................................................
9
10 Long-term capital gain (loss) from like-kind exchanges from federal Form 8824 ...............................................................
10
11 Partnership’s share of net long-term capital gain (loss), including specially allocated long-term capital gains (losses),
from other partnerships, estates, and trusts ........................................................................................................................
11
12 Capital gain distributions .....................................................................................................................................................
12
13 Long-term gain from stock acquired through stock options from qualified high technology businesses ...........................
13
(
)
14 Section 235-7(a)(14), HRS, long-term gain (See Instructions.) ..........................................................................................
14
(
)
15 Net long-term capital gain or (loss). Add lines 8 through 14 in column (f). Enter here and on Schedule K (Form N-20),
line 9 or 11 ...........................................................................................................................................................................
15
General Instructions
and involuntary conversions (other than casual-
officer, or director of the qualified high technol-
ties and thefts) see Schedule D-1, Sales of Busi-
ogy business, or investor who qualifies for the
(Section references are to the Internal Revenue
ness Property, and related instructions. If proper-
high technology business investment tax credit
Code unless Hawaii Revised Statutes (HRS) is
ty is involuntarily converted because of a casual-
is excluded from income taxes.
indicated.)
ty or theft, use federal Form 4684, Casualties and
For tax years beginning after 2007 and ending
Thefts.
Purpose of Schedule
before 2018, the gain realized by a fee simple
Gain and losses from section 1256 contracts
owner from the sale of a leased fee interest in
Use Schedule D (Form N-20) to report the sale or
and straddles are reported on federal Form 6781,
units within a condominium project, coopera-
exchange of capital assets, except capital gains
Gains and Losses From Section 1256 Contracts
tive project, or planned unit development to the
(losses) that are specially allocated to any part-
and Straddles. If there are limited partners, see
association of owners under chapter 514A or
ners.
section 1256(e)(4) for the limitation on losses
514B, HRS, or the residential cooperative cor-
Enter capital gains (losses) specially allocat-
from hedging transactions.
poration of the leasehold units is exempt from
ed to the partnership as a partner in other part-
Hawaii income taxation.
An exchange of business or investment prop-
nerships and from estates and trusts on Sched-
erty for property of a like kind is reported on fed-
Gain from the sale of property (other than pub-
ule D (Form N-20), line 4 or 11, whichever ap-
eral Form 8824, Like-Kind Exchanges.
licly traded stock or securities) for which any
plies. Enter capital gains (losses) of the partner-
payment is to be received in a tax year after the
For more information, see federal Publication
ship that are specially allocated to partners di-
year of sale, must be reported using the install-
544, Sales and Other Dispositions of Assets.
rectly on line 8, 9, or 11 of Schedule K and K-1
ment method on federal Form 6252, Installment
(Form N-20), whichever applies. Do not include
Items for Special Treatment
Sale Income, unless the partnership elects to
these amounts on Schedule D. See How In-
report the entire gain in the year of sale. The
come Is Shared Among Partners in the Instruc-
Effective for tax years beginning after December
partnership should also use federal Form 6252 if
tions for Form N-20 for more information.
31, 1999, all income earned and proceeds de-
it received a payment this year from a sale made
rived from stock options or stock, including stock
in an earlier year on the installment method.
General Information
issued through the exercise of stock options
If the partnership wants to elect out of the
or warrants, from a qualified high technology
To report sales or exchanges of property other
installment method for installment gain that is
business or from a holding company of a quali-
than capital assets, including the sale or ex-
not specially allocated among the partners, it
fied high technology business by an employee,
change of property used in a trade or business
(Continued on back)
Schedule D
Form N-20

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