Schedule D (565): Capital Gain or Loss (2024)
California · FTB · Used for tax years 2024
California Schedule D (565) reports a partnership’s short-term and long-term capital gains and losses for 2024. It includes property sales, installment-sale capital gains, the partnership’s share of capital gains or losses from other entities, and capital gain distributions, with
What you'll need
Have the following information available to complete the schedule:
- Name as shown on the return, FEIN, and California Secretary of State (SOS) file number.
- For each property transaction: description, date acquired, date sold, sales price, and cost or other basis. The form requests dates in mm/dd/yyyy format.
- Form FTB 3805E, line 26 or line 37, if reporting capital gains from installment sales.
- The partnership’s share of net short-term and long-term capital gains or losses, including amounts from LLCs, partnerships, fiduciaries, and S corporations.
- Capital gain distribution amounts, if any.
Common mistakes
Use additional sheets if necessary for either Part I or Part II, as the form reminds you.
Questions people ask
Where do I report short-term and long-term transactions?
Use Part I for assets held one year or less. Use Part II for assets held more than one year.
How do I calculate the gain or loss for a transaction?
Subtract the cost or other basis in column (e) from the sales price in column (d). Enter the result in column (f).
Where do installment-sale capital gains go?
Enter short-term installment-sale capital gains on line 2 and long-term installment-sale capital gains on line 6. Both lines refer to form FTB 3805E, line 26 or line 37.
Where do capital gain distributions go?
Enter capital gain distributions on line 8 in Part II.
Where do I carry the net totals?
Add lines 1, 2, and 3 to get the net short-term capital gain or loss on line 4. Enter that total on Schedule K (565), line 8 or line 11. Add lines 5, 6, 7, and 8 to get the net long-term capital gain or loss on line 9. Enter that total on Schedule K (565), line 9 or line 11.