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Get your taxes done using TurboTax
What form/schedule number is the "Capital Gain T form" you're referring to?
Your capital asset sale is reported on form 8949, then to Schedule D (if you received a 1099-B, you may be able to skip form 8949). The resulting gain or loss goes to line 7 of form 1040. The capital gain tax is calculated on the "Qualified Dividends and Capital Gains Worksheet (or the Schedule D worksheet).
None of these forms have a Part 5.
‎January 11, 2025
10:12 AM