How do I claim capital gain?

    Published: 06-16-2009
    Views: 10,455
    Goodman & Company Tax Director Art Auerbach explains how to claim capital gain on your tax return.

    Host: How do I claim capital gain?

    Art Auerbach: To claim a capital gain or a loss you need schedule D on Form 1040 as I mentioned. Part one of schedule D is short term. Short term is defined by comparing the purchase date with the sale date and that date is 12 months or less then the transaction goes into part one. If it is 12 months and one day or longer it's then considered to be a long-term gain or loss and that would go into part two of schedule D. You combine part one and part two together. You determine what the net result of your short-term and long-term transactions are and that moves over to the front page of 1040 on line 13.

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