Schedule D-IS: Long-Term Capital Gains and Losses Excluding Collectibles (2025)
Massachusetts · Massachusetts DOR · Used for tax years 2025
Massachusetts Schedule D-IS reports long-term capital gains and losses excluding collectibles and calculates taxable gains. It includes qualified small business stock gains and a separate section for installment sales from January 1, 1996 through December 31, 2002.
What you'll need
Have the following available, as applicable to your entries:
- U.S. Schedule D: Part 1 uses amounts from lines 8a and 8b and lines 9 through 13, column h.
- U.S. Form 1040: If you did not file U.S. Schedule D, Part 1, line 6 uses the amount from Form 1040, line 7.
- U.S. Form 4797, Part II: Part 1, line 7 asks for Massachusetts long-term capital gains and losses not already included on lines 1 through 6.
- Prior-year carryover loss amounts: These go on Part 1, line 8.
- Schedule C-2: This supplies allowable trade or business deductions.
The form also asks for your name and Social Security number.
Common mistakes
- Leaving out pages: The form repeatedly reminds you to complete and enclose all five pages of Schedule D-IS.
- Not marking a loss: Where the form provides a loss box, mark an X in the box at the left when showing a loss.
Questions people ask
What installment sales does Part 2 cover?
Part 2 covers long-term installment sales from January 1, 1996 through December 31, 2002. Its columns separate amounts by how long the asset was held.
Where do I enter long-term gains on collectibles?
Part 1, line 12 is for long-term gains on collectibles and pre-1996 installment sales. The form also directs you to enter that amount on Schedule B, Part 2, line 11.
How are taxable qualified small business stock gains handled?
Enter taxable qualified small business stock gains included in Part 1, line 24 on line 25. Transfer that amount to Part 3, line 26B, column 1, and multiply it by .03 to calculate the tax in column 2.
Where does the total tax go?
Part 3, line 27 directs you to enter the total tax on Form 1, line 24; Form 1-NR/PY, line 28; or Form 3M, line 7. Form 2 filers are directed to see the instructions.
Where do I report losses available to carry over?
On Part 3, line 28, enter the amount from Part 1, line 20 only if it is a loss.