How to report several daytrades on Schedule D?

Question

I have made several stock trades in 2006 and have a capital loss to show on Schedule D. However, Schedule D only has about 4 or 5 lines - can someone explain how I am supposed to account for my trades? I had about 50 trades in 2006.

Answer 1

If you are using software to prepare your taxes, the software will automatically handle it for you. There will be an attachment to your Schedule D.

If you are preparing by hand, print as many of the Schedule D-1 as you need (http://www.irs.gov/pub/irs-pdf/f1040sd1.pdf ) and attach them to the Schedule D.

Best wishes.

Answer 2

You can always create an excel spreadsheet showing these:

Stock sold
Shares sold
Purchase Date
Purchase Price
Sales Date
Sales Price
Short Term Capital Gain (Loss)
Long Term Capital Gain (Loss)

Sum up your short term activity on one line, sum up your long term activity on the next line, then a line for the total.

At the top of the sheet, put your name
put your social security number on the next line
put "Capital Gains and Losses Schedule" on the next line
and finally "ATTACHMENT A" on the 4th line

On Schedule D, write in the description box "Please see attachment A," put "VARIOUS" for the purchase dates and sales dates. But be sure to break out the short term and long term gains just as it is shown on your excel schedule and attach the schedule to the back of your tax return.

Answer 3

I think you can get an attachment or a worksheet to show everything and transfer them back to the schedule D.

Answer 4

Schedule d has a third page for overflow. If you can't find it try doing your taxes with a professional or use turbo tax online at quicken.com