100S Schedule D: S Corporation Capital Gains and Losses and Built-In Gains (2024)
California · FTB · Used for tax years 2024
California Schedule D (100S) reports an S corporation’s short-term and long-term capital gains and losses and calculates tax on built-in gains. It is attached to Form 100S.
Who files this form
The 2024 Schedule D (100S) is for S corporations reporting capital gains and losses and built-in gains. It includes Section A for built-in gains and Section B for capital gains.
The schedule must be attached to Form 100S. The form does not state detailed filing requirements.
What you'll need
Have the following information ready:
- Corporation name and California corporation number.
- For each property transaction: description, acquisition date, sale date, gross sales price, and cost or other basis plus selling expenses.
- If applicable, capital gain amounts from form FTB 3805E, line 26 or line 37, and federal Form 8824.
- For Section B, any gain from Schedule D-1, line 9, capital gain distributions, and unused capital loss carryover from 2023 attributable to the S corporation.
- For built-in gains, California taxable income and any net operating loss carryover deduction from years the corporation was a C corporation.
Attach a computation schedule for Section A, line 7, showing the excess of recognized built-in gains over recognized built-in losses attributable to California. Use additional sheets for property transactions if necessary.
How to file
Attach Schedule D (100S) to Form 100S.
Transfer the amounts to the Form 100S lines identified on the schedule, including applicable Schedule K entries. Report Section A, line 12, tax on built-in gains on Form 100S, Side 2, line 27.
The supplied form does not provide a mailing address or e-filing directions.
Common mistakes
- Do not overlook the reminder to read the instructions before completing Section A, Part III, Tax on Built-In Gains. Those instructions were not supplied here.
- Use California amounts for taxable income on Section A, line 8. The form directs you to the federal Schedule D (Form 1120-S) instructions for that line.
- Financial S corporations must use 10.84%, rather than 8.84%, on Section A, line 12.
- If Section A, line 11, is zero or less, enter 0 on both line 11 and line 12.
- If Section B, line 10, is a loss, carry it forward to taxable year 2025 rather than entering it on Form 100S, Side 1, line 4.
Questions people ask
What counts as short-term or long-term on this schedule?
Short-term applies to assets held one year or less. Long-term applies to assets held more than one year.
What tax rate applies to built-in gains?
Section A, line 12, multiplies line 11 by 8.84%. Financial S corporations must use 10.84%.
Where do I report an unused capital loss carryover from 2023?
Enter the unused carryover attributable to the S corporation on Section B, Part I, line 2c.
What if I need more space to list transactions?
The form allows additional sheets for both short-term and long-term property transactions.