Schedule D (568): Capital Gain or Loss (2024)
California · FTB · Used for tax years 2024
California Schedule D (568) reports an LLC’s short-term and long-term capital gains and losses for 2024. It includes property sales, installment-sale capital gains, the LLC’s share of capital gains and losses from other entities, and capital gain distributions, with net totals ca
What you'll need
Have the following information ready for the 2024 schedule:
- Name as shown on the return, California Secretary of State (SOS) file number, and FEIN.
- For each property sold: description, acquisition date, sale date, sales price, and cost or other basis. Enter dates as mm/dd/yyyy.
- Form FTB 3805E, line 26 or line 37, if reporting capital gains from installment sales.
- The LLC’s share of net short-term and long-term capital gains or losses, including amounts from LLCs, partnerships, fiduciaries, and S corporations.
- Capital gain distributions, if any.
Use additional sheets if necessary.
Questions people ask
Which part should I use for short-term and long-term gains or losses?
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 each sale?
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 I report the net totals?
For the net short-term gain or loss, add lines 1, 2, and 3. Enter the total on line 4 and on Schedule K (568), line 8 or line 11.
For the net long-term gain or loss, add lines 5, 6, 7, and 8. Enter the total on line 9 and on Schedule K (568), line 9 or line 11.