1065 Schedule D Capitals Gains and Losses

Note: The draft you are looking for begins on the next page.

Caution: DRAFT—NOT FOR FILING
This is an early release draft of an IRS tax form, instructions, or publication,
which the IRS is providing for your information. Do not file draft forms and do
not rely on draft forms, instructions, and publications for filing. We do not
release draft forms until we believe we have incorporated all changes (except
when explicitly stated on this coversheet). However, unexpected issues
occasionally arise, or legislation is passed—in this case, we will post a new draft
of the form to alert users that changes were made to the previously posted draft.
Thus, there are never any changes to the last posted draft of a form and the
final revision of the form. Forms and instructions generally are subject to OMB
approval before they can be officially released, so we post only drafts of them
until they are approved. Drafts of instructions and publications usually have
some changes before their final release.
Early release drafts are at IRS.gov/DraftForms and remain there after the
final release is posted at IRS.gov/LatestForms. All information about all forms,
instructions, and pubs is at IRS.gov/Forms.
Almost every form and publication has a page on IRS.gov with a friendly
shortcut. For example, the Form 1040 page is at IRS.gov/Form1040; the Pub.
501 page is at IRS.gov/Pub501; the Form W-4 page is at IRS.gov/W4; and the
Schedule A (Form 1040/SR) page is at IRS.gov/ScheduleA. If typing in a link
above instead of clicking on it, be sure to type the link into the address bar of
your browser, not a Search box.
If you wish, you can submit comments to the IRS about draft or final forms,
instructions, or publications at IRS.gov/FormsComments. We cannot respond to
all comments due to the high volume we receive and may not be able to
consider many suggestions until the subsequent revision of the product.
If you have comments on reducing paperwork and respondent (filer) burden,
with respect to draft or final forms, please respond to the relevant information
collection through the Federal Register process; for more info, click here.

SCHEDULE D
(Form 1065)
Department of the Treasury
Internal Revenue Service

Capital Gains and Losses
▶

OMB No. 1545-0123

2021

▶ Attach to Form 1065 or Form 8865.
Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10.
▶ Go to www.irs.gov/Form1065 for instructions and the latest information.

Employer identification number

Name of partnership

DRAFT AS OF
August 31, 2021
DO NOT FILE

Did the partnership dispose of any investment(s) in a qualified opportunity fund during the tax year? . . . .
If “Yes,” attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss.

Part I

▶

Yes

No

Short-Term Capital Gains and Losses—Generally Assets Held One Year or Less (see instructions)

See instructions for how to figure the amounts to enter on the
lines below.
This form may be easier to complete if you round off cents to
whole dollars.

(d)
Proceeds
(sales price)

(g)
(h) Gain or (loss)
Adjustments
Subtract column (e)
to gain or loss from
from column (d) and
Form(s) 8949, Part I, combine the result with
line 2, column (g)
column (g)

(e)
Cost
(or other basis)

1a Totals for all short-term transactions reported on Form
1099-B for which basis was reported to the IRS and for
which you have no adjustments (see instructions).
However, if you choose to report all these transactions
on Form 8949, leave this line blank and go to line 1b .

1b Totals for all transactions reported on Form(s) 8949 with
Box A checked . . . . . . . . . . . . .
2 Totals for all transactions reported on Form(s) 8949 with
Box B checked . . . . . . . . . . . . .
3 Totals for all transactions reported on Form(s) 8949 with
Box C checked . . . . . . . . . . . . .

4 Short-term capital gain from installment sales from Form 6252, line 26 or 37 .

.

.

.

.

.

.

5 Short-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . .
6 Partnership’s share of net short-term capital gain (loss), including specially allocated short-term
capital gains (losses), from other partnerships, estates, and trusts . . . . . . . . . .
7 Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). Enter here and
on Form 1065, Schedule K, line 8 or 11; or Form 8865, Schedule K, line 8 or 11 . . . . . .

Part II

4
5
6
7

Long-Term Capital Gains and Losses—Generally Assets Held More Than One Year (see instructions)

See instructions for how to figure the amounts to enter on the
lines below.
This form may be easier to complete if you round off cents to
whole dollars.

(d)
Proceeds
(sales price)

(e)
Cost
(or other basis)

(g)
(h) Gain or (loss)
Adjustments
Subtract column (e)
to gain or loss from
from column (d) and
Form(s) 8949, Part II, combine the result with
line 2, column (g)
column (g)

8a Totals for all long-term transactions reported on Form
1099-B for which basis was reported to the IRS and for
which you have no adjustments (see instructions).
However, if you choose to report all these transactions
on Form 8949, leave this line blank and go to line 8b .
8b Totals for all transactions reported on Form(s) 8949 with
Box D checked . . . . . . . . . . . . .
9 Totals for all transactions reported on Form(s) 8949 with
Box E checked . . . . . . . . . . . . .
10 Totals for all transactions reported on Form(s) 8949 with
Box F checked . . . . . . . . . . . . . .
11 Long-term capital gain from installment sales from Form 6252, line 26 or 37 . . . . . . .
12 Long-term capital gain or (loss) from like-kind exchanges from Form 8824 . . . . . . .
13 Partnership’s share of net long-term capital gain (loss), including specially allocated long-term
capital gains (losses), from other partnerships, estates, and trusts . . . . . . . . . .
14 Capital gain distributions (see instructions) . . . . . . . . . . . . . . . . . .
15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Enter here and
on Form 1065, Schedule K, line 9a or 11; or Form 8865, Schedule K, line 9a or 11 . . . . .
For Paperwork Reduction Act Notice, see the Instructions for Form 1065.

Cat. No. 11393G

11
12
13
14
15
Schedule D (Form 1065) 2021