@danmunikaplan please see the instructions below for entering the information necessary for TurboTax to accurately calculate line 18.
Instructions for Schedule D - Line 18 page D-12
Line - 18 If you checked “Yes” on line 17, complete the 28% Rate Gain Worksheet in these instructions if either of the following applies for 2021
. • You reported in Part II of Form 8949 a section 1202 exclusion from the eligible gain on QSB stock (see Exclusion of Gain on Qualified Small Business (QSB) Stock, earlier).
• You reported in Part II of Form 8949 a collectibles gain or (loss). A collectibles gain or (loss) is any long-term gain or deductible long-term loss from the sale or exchange of a collectible that is a capital asset.
Collectibles include works of art, rugs, antiques, metals (such as gold, silver, and platinum bullion), gems, stamps, coins, alcoholic beverages, and certain other tangible property.
Include on the worksheet any gain (but not loss) from the sale or exchange of an interest in a partnership, S corporation, or trust held for more than 1 year and attributable to unrealized appreciation of collectibles. For details, see Regulations section 1.1(h)-1. Also, attach the statement required under Regulations section 1.1(h)-1(e).
Capital gains and deductible capital losses are reported on Form 1040, Schedule D PDF, Capital Gains and Losses, and then transferred to line 13 of Form 1040, U.S. Individual Income Tax Return. Capital gains and losses are classified as long-term or short term. If you hold the asset for more than one year, your capital gain or loss is long-term. If you hold the asset one year or less, your capital gain or loss is short-term. To figure the holding period, begin counting on the day after you received the property and include the day you disposed of the property.
Guide to Schedule D Capital Gains TurboTax
Reporting Capital Gains -
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