Instructions for Schedule D (Form 1041) - Introductory Material

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Future Developments

For the latest information about developments related to Schedule D and its instructions, such as legislation enacted after they were published, go to

What's New

Form 1041 E-filing . For tax year 2014, Form 1041 must be e-Filed using Form 8453-FE, U.S. Estate or Trust Declaration for an IRS e-File Return. If the 2014 Form 1041 is e-filed, then any Schedule D (Form 1041) and Form 8949 that are part of the return must also be e-filed.

Note. Form 8453-F, U.S. Estate or Trust Income Tax Declaration and Signature for Electronic Filing, is obsolete.

Capital gains and qualified dividends.   For tax year 2014, the 20% maximum capital gain rate applies to estates and trusts with income above $12,150. The 0% and 15% rates continue to apply to certain threshold amounts. The 0% rate applies up to $2,500. The 15% rate applies to amounts over $2,500 and up to $12,150.

Section 1202 exclusion.    Line 2 of the 28% Rate Gain Worksheet was revised to reflect the 75% exclusion of gain on QSB stock acquired during certain periods of 2009, and held for more than 5 years when sold in 2014.

Form 1099-B.   Form 1099-B has been redesigned so that the information is reported in boxes that are numbered to match the corresponding line and column on Form 8949. A new box has also been added at the top of Form 1099-B to tell you which box to check when completing Form 8949. These changes will make it easier for you to complete Form 8949.

  A Form 1099-B (or substitute statement) for transactions involving certain types of debt instruments acquired after 2013 will have more detailed information than a Form 1099-B (or substitute statement) for transactions involving debt instruments acquired before 2014. This is also true for a Form 1099-B (or substitute statement) for options granted or acquired after 2013 or securities futures contracts entered into after 2013. This additional information will help you complete Form 8949 and Schedule D.

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