For the latest information about developments related to Schedule D (Form 1120S) and its instructions, such as legislation enacted after they were published, go to www.irs.gov/form1120s.
Form 8949. Many transactions that, in previous years, would have been reported on Schedule D must be reported on Form 8949, Sales and Other Dispositions of Capital Assets. For 2012, Schedule D (Form 1120S) filers will not list separate capital asset transactions on Schedule D (Form 1120S). Instead, Schedule D (Form 1120S) filers that have transactions that must be listed on line 1, 2, 3, 8, 9, or 10 must complete Form 8949 before completing line 1, 2, 3, 8, 9, or 10. See the Instructions for Form 8949.
Built-in gains. For tax years beginning in 2012 or 2013, the recognition period for built-in gains tax is a 5-year period. See Part III. Built-in Gains Tax and section 1374(d)(7). In addition, for tax years beginning after 2011, the treatment of all payments received from an installment sale follows certain built-in gains tax rules in effect for the tax year of the sale. See section 1374(d)(7)(E).
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