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H&r Block Tax Return

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H&r Block Tax Return

H&r block tax return Publication 4492-A - Introductory Material Table of Contents Introduction Useful Items - You may want to see: Introduction This publication explains the temporary tax relief provided by the Food, Conservation, and Energy Act of 2008 for taxpayers in Kiowa County, Kansas, and surrounding areas, who were affected by the storms and tornadoes that began on May 4, 2007. H&r block tax return Useful Items - You may want to see: Publication 536 Net Operating Losses (NOLs) for Individuals, Estates, and Trusts 547 Casualties, Disasters, and Thefts 590 Individual Retirement Arrangements (IRAs) 946 How To Depreciate Property Form (and Instructions) 4506Request for Copy of Tax Return 4506-TRequest for Transcript of Tax Return 4684Casualties and Thefts 5884-ACredits for Employers Affected by Hurricane Katrina, Rita, or Wilma 8606Nondeductible IRAs 8915Qualified Hurricane Retirement Plan Distributions and Repayments See How To Get Tax Help on page 14 for information about getting publications and forms. H&r block tax return Prev  Up  Next   Home   More Online Publications
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Consumer Protection Offices

City, county, regional, and state consumer offices offer a variety of important services. They might mediate complaints, conduct investigations, prosecute offenders of consumer laws, license and regulate professional service providers, provide educational materials and advocate for consumer rights. To save time, call before sending a written complaint. Ask if the office handles the type of complaint you have and if complaint forms are provided.

State Consumer Protection Offices

Nevada Department of Business and Industry

Website: Nevada Department of Business and Industry

Address: Nevada Department of Business and Industry
Fight Fraud Task Force
555 E. Washington Ave., Suite 4900
Las Vegas, NV 89101

Phone Number: 702-486-2750

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Banking Authorities

The officials listed in this section regulate and supervise state-chartered banks. Many of them handle or refer problems and complaints about other types of financial institutions as well. Some also answer general questions about banking and consumer credit. If you are dealing with a federally chartered bank, check Federal Agencies.

Department of Business and Industry

Website: Department of Business and Industry

Address: Department of Business and Industry
Financial Institutions Division
2785 E. Desert Inn Rd., Suite 180
Las Vegas, NV 89121

Phone Number: 702-486-4120

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Insurance Regulators

Each state has its own laws and regulations for each type of insurance. The officials listed in this section enforce these laws. Many of these offices can also provide you with information to help you make informed insurance buying decisions.

Department of Business and Industry

Website: Department of Business and Industry

Address: Department of Business and Industry
Division of Insurance
2501 E. Sahara Ave., Suite 302
Las Vegas, NV 89104

Phone Number: 702-486-4009

Toll-free: 1-888-872-3234 (NV)

Department of Business and Industry

Website: Department of Business and Industry

Address: Department of Business and Industry
Division of Insurance
Consumer Services Section

1818 E. College Pkwy., Suite 103
Carson City, NV 89706

Phone Number: 775-687-0700

Toll-free: 1-888-872-3234 (NV)

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Securities Administrators

Each state has its own laws and regulations for securities brokers and securities - including stocks, mutual funds, commodities, real estate, etc. The officials and agencies listed in this section enforce these laws and regulations. Many of these offices can also provide information to help you make informed investment decisions.

Office of the Secretary of State

Website: Office of the Secretary of State

Address: Office of the Secretary of State
Securities Division
555 E. Washington Ave.,
Suite 5200
Las Vegas, NV 89101

Phone Number: 702-486-2440

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Utility Commissions

State Utility Commissions regulate services and rates for gas, electricity and telephones within your state. In some states, the utility commissions regulate other services such as water, transportation, and the moving of household goods. Many utility commissions handle consumer complaints. Sometimes, if a number of complaints are received about the same utility matter, they will conduct investigations.

Public Utilities Commission - Northern NV

Website: Public Utilities Commission - Northern NV

Address: Public Utilities Commission - Northern NV
Consumer Complaint Resolution Division
1150 E. William St.
Carson City, NV 89701-3109

Phone Number: 775-684-6100

Public Utilities Commission - Southern NV

Website: Public Utilities Commission - Southern NV

Address: Public Utilities Commission - Southern NV
Consumer Complaint Resolution Division
9075 W. Diablo Dr., Suite 250
Las Vegas, NV 89148

Phone Number: 702-486-2600

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The H&r Block Tax Return

H&r block tax return 4. H&r block tax return   Reporting Gains and Losses Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Information Returns Schedule D and Form 8949Long and Short Term Net Gain or Loss Treatment of Capital Losses Capital Gains Tax Rates Form 4797Mark-to-market election. H&r block tax return Introduction This chapter explains how to report capital gains and losses and ordinary gains and losses from sales, exchanges, and other dispositions of property. H&r block tax return Although this discussion refers to Schedule D (Form 1040) and Form 8949, many of the rules discussed here also apply to taxpayers other than individuals. H&r block tax return However, the rules for property held for personal use usually will not apply to taxpayers other than individuals. H&r block tax return Topics - This chapter discusses: Information returns Schedule D (Form 1040) Form 4797 Form 8949 Useful Items - You may want to see: Publication 550 Investment Income and Expenses 537 Installment Sales Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 1099-B Proceeds From Broker and Barter Exchange Transactions 1099-S Proceeds From Real Estate Transactions 4684 Casualties and Thefts 4797 Sales of Business Property 6252 Installment Sale Income 6781 Gains and Losses from Section 1256 Contracts and Straddles 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets See chapter 5 for information about getting publications and forms. H&r block tax return Information Returns If you sell or exchange certain assets, you should receive an information return showing the proceeds of the sale. H&r block tax return This information is also provided to the IRS. H&r block tax return Form 1099-B. H&r block tax return   If you sold property, such as stocks, bonds, or certain commodities, through a broker, you should receive Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, or a substitute statement from the broker. H&r block tax return Use the Form 1099-B or a substitute statement to complete Form 8949 and/or Schedule D. H&r block tax return Whether or not you receive 1099-B, you must report all taxable sales of stock, bonds, commodities, etc. H&r block tax return on Form 8949 and/or Schedule D, as applicable. H&r block tax return For more information on figuring gains and losses from these transactions, see chapter 4 in Publication 550. H&r block tax return For information on reporting the gains and losses, see the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040). H&r block tax return Form 1099-S. H&r block tax return   An information return must be provided on certain real estate transactions. H&r block tax return Generally, the person responsible for closing the transaction (the “real estate reporting person”) must report on Form 1099-S sales or exchanges of the following types of property. H&r block tax return Land (improved or unimproved), including air space. H&r block tax return An inherently permanent structure, including any residential, commercial, or industrial building. H&r block tax return A condominium unit and its related fixtures and common elements (including land). H&r block tax return Stock in a cooperative housing corporation. H&r block tax return If you sold or exchanged any of the above types of property, the “real estate reporting person” must give you a copy of Form 1099-S or a statement containing the same information as the Form 1099-S. H&r block tax return The “real estate reporting person” could include the buyer's attorney, your attorney, the title or escrow company, a mortgage lender, your broker, the buyer's broker, or the person acquiring the biggest interest in the property. H&r block tax return   For more information see chapter 4 in Publication 550. H&r block tax return Also, see the Instructions for Form 8949. H&r block tax return Schedule D and Form 8949 Form 8949. H&r block tax return   Individuals, corporations, and partnerships, use Form 8949 to report the following. H&r block tax return    Sales or exchanges of capital assets, including stocks, bonds, etc. H&r block tax return , and real estate (if not reported on another form or schedule such as Form 4684, 4797, 6252, 6781, or 8824). H&r block tax return Include these transactions even if you did not receive a Form 1099-B or 1099-S. H&r block tax return Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit. H&r block tax return Nonbusiness bad debts. H&r block tax return   Individuals, If you are filing a joint return, complete as many copies of Form 8949 as you need to report all of your and your spouse's transactions. H&r block tax return You and your spouse may list your transactions on separate forms or you may combine them. H&r block tax return However, you must include on your Schedule D the totals from all Forms 8949 for both you and your spouse. H&r block tax return    Corporations and electing large partnerships also use Form 8949 to report their share of gain or loss from a partnership, S Corporation, estate or trust. H&r block tax return   Business entities meeting certain criteria, may have an exception to some of the normal requirements for completing Form 8949. H&r block tax return See the Instructions for Form 8949. H&r block tax return Schedule D. H&r block tax return    Use Schedule D (Form 1040) to figure the overall gain or loss from transactions reported on Form 8949, and to report certain transactions you do not have to report on Form 8949. H&r block tax return Before completing Schedule D, you may have to complete other forms as shown below. H&r block tax return    Complete all applicable lines of Form 8949 before completing lines 1b, 2, 3, 8b, 9, or 10 of your applicable Schedule D. H&r block tax return Enter on Schedule D the combined totals from all your Forms 8949. H&r block tax return For a sale, exchange, or involuntary conversion of business property, complete Form 4797 (discussed later). H&r block tax return For a like-kind exchange, complete Form 8824. H&r block tax return See Reporting the exchange under Like-Kind Exchanges in chapter 1. H&r block tax return For an installment sale, complete Form 6252. H&r block tax return See Publication 537. H&r block tax return For an involuntary conversion due to casualty or theft, complete Form 4684. H&r block tax return See Publication 547, Casualties, Disasters, and Thefts. H&r block tax return For a disposition of an interest in, or property used in, an activity to which the at-risk rules apply, complete Form 6198, At-Risk Limitations. H&r block tax return See Publication 925, Passive Activity and At-Risk Rules. H&r block tax return For a disposition of an interest in, or property used in, a passive activity, complete Form 8582, Passive Activity Loss Limitations. H&r block tax return See Publication 925. H&r block tax return For gains and losses from section 1256 contracts and straddles, complete Form 6781. H&r block tax return See Publication 550. H&r block tax return Personal-use property. H&r block tax return   Report gain on the sale or exchange of property held for personal use (such as your home) on Form 8949 and Schedule D (Form 1040), as applicable. H&r block tax return Loss from the sale or exchange of property held for personal use is not deductible. H&r block tax return But if you had a loss from the sale or exchange of real estate held for personal use for which you received a Form 1099-S, report the transaction on Form 8949 and Schedule D, even though the loss is not deductible. H&r block tax return See the Instructions for Schedule D (Form 1040) and the Instructions for Form 8949 for information on how to report the transaction. H&r block tax return Long and Short Term Where you report a capital gain or loss depends on how long you own the asset before you sell or exchange it. H&r block tax return The time you own an asset before disposing of it is the holding period. H&r block tax return If you received a Form 1099-B, (or substitute statement) box 1c may help you determine whether the gain or loss is short-term or long-term. H&r block tax return If you hold a capital asset 1 year or less, the gain or loss from its disposition is short term. H&r block tax return Report it in Part I of Form 8949 and/or Schedule D, as applicable. H&r block tax return If you hold a capital asset longer than 1 year, the gain or loss from its disposition is long term. H&r block tax return Report it in Part II of Form 8949 and/or Schedule D, as applicable. H&r block tax return   Table 4-1. H&r block tax return Do I Have a Short-Term or Long-Term Gain or Loss? IF you hold the property. H&r block tax return . H&r block tax return . H&r block tax return  THEN you have a. H&r block tax return . H&r block tax return . H&r block tax return 1 year or less, Short-term capital gain or  loss. H&r block tax return More than 1 year, Long-term capital gain or  loss. H&r block tax return These distinctions are essential to correctly arrive at your net capital gain or loss. H&r block tax return Capital losses are allowed in full against capital gains plus up to $3,000 of ordinary income. H&r block tax return See Capital Gains Tax Rates, later. H&r block tax return Holding period. H&r block tax return   To figure if you held property longer than 1 year, start counting on the day following the day you acquired the property. H&r block tax return The day you disposed of the property is part of your holding period. H&r block tax return Example. H&r block tax return If you bought an asset on June 19, 2012, you should start counting on June 20, 2012. H&r block tax return If you sold the asset on June 19, 2013, your holding period is not longer than 1 year, but if you sold it on June 20, 2013, your holding period is longer than 1 year. H&r block tax return Patent property. H&r block tax return   If you dispose of patent property, you generally are considered to have held the property longer than 1 year, no matter how long you actually held it. H&r block tax return For more information, see Patents in chapter 2. H&r block tax return Inherited property. H&r block tax return   If you inherit property, you are considered to have held the property longer than 1 year, regardless of how long you actually held it. H&r block tax return Installment sale. H&r block tax return   The gain from an installment sale of an asset qualifying for long-term capital gain treatment in the year of sale continues to be long term in later tax years. H&r block tax return If it is short term in the year of sale, it continues to be short term when payments are received in later tax years. H&r block tax return    The date the installment payment is received determines the capital gains rate that should be applied not the date the asset was sold under an installment contract. H&r block tax return Nontaxable exchange. H&r block tax return   If you acquire an asset in exchange for another asset and your basis for the new asset is figured, in whole or in part, by using your basis in the old property, the holding period of the new property includes the holding period of the old property. H&r block tax return That is, it begins on the same day as your holding period for the old property. H&r block tax return Example. H&r block tax return You bought machinery on December 4, 2012. H&r block tax return On June 4, 2013, you traded this machinery for other machinery in a nontaxable exchange. H&r block tax return On December 5, 2013, you sold the machinery you got in the exchange. H&r block tax return Your holding period for this machinery began on December 5, 2012. H&r block tax return Therefore, you held it longer than 1 year. H&r block tax return Corporate liquidation. H&r block tax return   The holding period for property you receive in a liquidation generally starts on the day after you receive it if gain or loss is recognized. H&r block tax return Profit-sharing plan. H&r block tax return   The holding period of common stock withdrawn from a qualified contributory profit-sharing plan begins on the day following the day the plan trustee delivered the stock to the transfer agent with instructions to reissue the stock in your name. H&r block tax return Gift. H&r block tax return   If you receive a gift of property and your basis in it is figured using the donor's basis, your holding period includes the donor's holding period. H&r block tax return For more information on basis, see Publication 551, Basis of Assets. H&r block tax return Real property. H&r block tax return   To figure how long you held real property, start counting on the day after you received title to it or, if earlier, the day after you took possession of it and assumed the burdens and privileges of ownership. H&r block tax return   However, taking possession of real property under an option agreement is not enough to start the holding period. H&r block tax return The holding period cannot start until there is an actual contract of sale. H&r block tax return The holding period of the seller cannot end before that time. H&r block tax return Repossession. H&r block tax return   If you sell real property but keep a security interest in it and then later repossess it, your holding period for a later sale includes the period you held the property before the original sale, as well as the period after the repossession. H&r block tax return Your holding period does not include the time between the original sale and the repossession. H&r block tax return That is, it does not include the period during which the first buyer held the property. H&r block tax return Nonbusiness bad debts. H&r block tax return   Nonbusiness bad debts are short-term capital losses. H&r block tax return For information on nonbusiness bad debts, see chapter 4 of Publication 550. H&r block tax return    Net Gain or Loss The totals for short-term capital gains and losses and the totals for long-term capital gains and losses must be figured separately. H&r block tax return Net short-term capital gain or loss. H&r block tax return   Combine your short-term capital gains and losses, including your share of short-term capital gains or losses from partnerships, S corporations, and fiduciaries and any short-term capital loss carryover. H&r block tax return Do this by adding all your short-term capital gains. H&r block tax return Then add all your short-term capital losses. H&r block tax return Subtract the lesser total from the other. H&r block tax return The result is your net short-term capital gain or loss. H&r block tax return Net long-term capital gain or loss. H&r block tax return   Follow the same steps to combine your long-term capital gains and losses. H&r block tax return Include the following items. H&r block tax return Net section 1231 gain from Part I, Form 4797, after any adjustment for nonrecaptured section 1231 losses from prior tax years. H&r block tax return Capital gain distributions from regulated investment companies (mutual funds) and real estate investment trusts. H&r block tax return Your share of long-term capital gains or losses from partnerships, S corporations, and fiduciaries. H&r block tax return Any long-term capital loss carryover. H&r block tax return The result from combining these items with other long-term capital gains and losses is your net long-term capital gain or loss. H&r block tax return Net gain. H&r block tax return   If the total of your capital gains is more than the total of your capital losses, the difference is taxable. H&r block tax return Different tax rates may apply to the part that is a net capital gain. H&r block tax return See Capital Gains Tax Rates, later. H&r block tax return Net loss. H&r block tax return   If the total of your capital losses is more than the total of your capital gains, the difference is deductible. H&r block tax return But there are limits on how much loss you can deduct and when you can deduct it. H&r block tax return See Treatment of Capital Losses, next. H&r block tax return    Treatment of Capital Losses If your capital losses are more than your capital gains, you can deduct the difference as a capital loss deduction even if you do not have ordinary income to offset it. H&r block tax return The yearly limit on the amount of the capital loss you can deduct is $3,000 ($1,500 if you are married and file a separate return). H&r block tax return Table 4-2. H&r block tax return Holding Period for Different Types of Acquisitions Type of acquisition: When your holding period starts: Stocks and bonds bought on a securities market Day after trading date you bought security. H&r block tax return Ends on trading date you sold security. H&r block tax return U. H&r block tax return S. H&r block tax return Treasury notes and bonds If bought at auction, day after notification of bid acceptance. H&r block tax return If bought through subscription, day after subscription was submitted. H&r block tax return Nontaxable exchanges Day after date you acquired old property. H&r block tax return Gift If your basis is giver's adjusted basis, same day as giver's holding period began. H&r block tax return If your basis is FMV, day after date of gift. H&r block tax return Real property bought Generally, day after date you received title to the property. H&r block tax return Real property repossessed Day after date you originally received title to the property, but does not include time between the original sale and date of repossession. H&r block tax return Capital loss carryover. H&r block tax return   Generally, you have a capital loss carryover if either of the following situations applies to you. H&r block tax return Your net loss is more than the yearly limit. H&r block tax return Your taxable income without your deduction for exemptions is less than zero. H&r block tax return If either of these situations applies to you for 2013, see Capital Losses under Reporting Capital Gains and Losses in chapter 4 of Publication 550 to figure the amount you can carryover to 2014. H&r block tax return Example. H&r block tax return Bob and Gloria Sampson sold property in 2013. H&r block tax return The sale resulted in a capital loss of $7,000. H&r block tax return The Sampsons had no other capital transactions. H&r block tax return On their joint 2013 return, the Sampsons deduct $3,000, the yearly limit. H&r block tax return They had taxable income of $2,000. H&r block tax return The unused part of the loss, $4,000 ($7,000 − $3,000), is carried over to 2014. H&r block tax return If the Sampsons' capital loss had been $2,000, it would not have been more than the yearly limit. H&r block tax return Their capital loss deduction would have been $2,000. H&r block tax return They would have no carryover to 2014. H&r block tax return Short-term and long-term losses. H&r block tax return   When you carry over a loss, it retains its original character as either long term or short term. H&r block tax return A short-term loss you carry over to the next tax year is added to short-term losses occurring in that year. H&r block tax return A long-term loss you carry over to the next tax year is added to long-term losses occurring in that year. H&r block tax return A long-term capital loss you carry over to the next year reduces that year's long-term gains before its short-term gains. H&r block tax return   If you have both short-term and long-term losses, your short-term losses are used first against your allowable capital loss deduction. H&r block tax return If, after using your short-term losses, you have not reached the limit on the capital loss deduction, use your long-term losses until you reach the limit. H&r block tax return To figure your capital loss carryover from 2013 to 2014 use the Capital Loss Carryover Worksheet in the 2013 Instructions for Schedule D (Form 1040). H&r block tax return Joint and separate returns. H&r block tax return   On a joint return, the capital gains and losses of spouses are figured as the gains and losses of an individual. H&r block tax return If you are married and filing a separate return, your yearly capital loss deduction is limited to $1,500. H&r block tax return Neither you nor your spouse can deduct any part of the other's loss. H&r block tax return   If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. H&r block tax return However, if you and your spouse once filed jointly and are now filing separately, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss. H&r block tax return Death of taxpayer. H&r block tax return   Capital losses cannot be carried over after a taxpayer's death. H&r block tax return They are deductible only on the final income tax return filed on the decedent's behalf. H&r block tax return The yearly limit discussed earlier still applies in this situation. H&r block tax return Even if the loss is greater than the limit, the decedent's estate cannot deduct the difference or carry it over to following years. H&r block tax return Corporations. H&r block tax return   A corporation can deduct capital losses only up to the amount of its capital gains. H&r block tax return In other words, if a corporation has a net capital loss, it cannot be deducted in the current tax year. H&r block tax return It must be carried to other tax years and deducted from capital gains occurring in those years. H&r block tax return For more information, see Publication 542. H&r block tax return Capital Gains Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. H&r block tax return These lower rates are called the maximum capital gains rates. H&r block tax return The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. H&r block tax return For 2013, the maximum tax rates for individuals are 0%, 15%, 20%, 25%, and 28%. H&r block tax return Also, individuals, use the Qualified Dividends and Capital Gain Worksheet in the Instructions for Form 1040, or the Schedule D Tax Computation Worksheet in the Instructions for Schedule D (Form 1040) (whichever applies) to figure your tax if you have qualified dividends or net capital gain. H&r block tax return For more information, see chapter 4 of Publication 550. H&r block tax return Also see the Instructions for Schedule D (Form 1040). H&r block tax return Unrecaptured section 1250 gain. H&r block tax return   Generally, this is the part of any long-term capital gain on section 1250 property (real property) that is due to depreciation. H&r block tax return Unrecaptured section 1250 gain cannot be more than the net section 1231 gain or include any gain otherwise treated as ordinary income. H&r block tax return Use the worksheet in the Schedule D instructions to figure your unrecaptured section 1250 gain. H&r block tax return For more information about section 1250 property and net section 1231 gain, see chapter 3. H&r block tax return Form 4797 Use Form 4797 to report: The sale or exchange of: Property used in your trade or business; Depreciable and amortizable property; Oil, gas, geothermal, or other mineral properties; and Section 126 property. H&r block tax return The involuntary conversion (from other than casualty or theft) of property used in your trade or business and capital assets held in connection with a trade or business or a transaction entered into for profit. H&r block tax return The disposition of noncapital assets (other than inventory or property held primarily for sale to customers in the ordinary course of your trade or business). H&r block tax return The disposition of capital assets not reported on Schedule D. H&r block tax return The gain or loss (including any related recapture) for partners and S corporation shareholders from certain section 179 property dispositions by partnerships (other than electing large partnerships) and S corporations. H&r block tax return The computation of recapture amounts under sections 179 and 280F(b)(2) when the business use of section 179 or listed property decreases to 50% or less. H&r block tax return Gains or losses treated as ordinary gains or losses, if you are a trader in securities or commodities and made a mark-to-market election under Internal Revenue Code section 475(f). H&r block tax return You can use Form 4797 with Form 1040, 1065, 1120, or 1120S. H&r block tax return Section 1231 gains and losses. H&r block tax return   Show any section 1231 gains and losses in Part I. H&r block tax return Carry a net gain to Schedule D (Form 1040) as a long-term capital gain. H&r block tax return Carry a net loss to Part II of Form 4797 as an ordinary loss. H&r block tax return   If you had any nonrecaptured net section 1231 losses from the preceding 5 tax years, reduce your net gain by those losses and report the amount of the reduction as an ordinary gain in Part II. H&r block tax return Report any remaining gain on Schedule D (Form 1040). H&r block tax return See Section 1231 Gains and Losses in chapter 3. H&r block tax return Ordinary gains and losses. H&r block tax return   Show any ordinary gains and losses in Part II. H&r block tax return This includes a net loss or a recapture of losses from prior years figured in Part I of Form 4797. H&r block tax return It also includes ordinary gain figured in Part III. H&r block tax return Mark-to-market election. H&r block tax return   If you made a mark-to-market election, you should report all gains and losses from trading as ordinary gains and losses in Part II of Form 4797, instead of as capital gains and losses on Form 8949 and Schedule D (Form 1040). H&r block tax return See the Instructions for Form 4797. H&r block tax return Also see Special Rules for Traders in Securities, in chapter 4 of Publication 550. H&r block tax return Ordinary income from depreciation. H&r block tax return   Figure the ordinary income from depreciation on personal property and additional depreciation on real property (as discussed in chapter 3) in Part III. H&r block tax return Carry the ordinary income to Part II of Form 4797 as an ordinary gain. H&r block tax return Carry any remaining gain to Part I as section 1231 gain, unless it is from a casualty or theft. H&r block tax return Carry any remaining gain from a casualty or theft to Form 4684. H&r block tax return Prev  Up  Next   Home   More Online Publications