Schedule D: Long-Term Capital Gains and Losses Excluding Collectibles and pre-1996 installment sales (2025)
Massachusetts · Massachusetts DOR · Used for tax years 2025
Massachusetts Schedule D for 2025 calculates taxable long-term capital gains and losses, excluding collectibles and pre-1996 installment sales. It includes Massachusetts adjustments, prior-year loss carryovers, tax on long-term capital gains, and losses available to carry forward
Who files this form
Massachusetts Schedule D for tax year 2025 reports long-term capital gains and losses, excluding collectibles and pre-1996 installment sales.
Do not file Schedule D if you have capital gains from the sale of stock in certain Massachusetts-based start-up corporations, or installment sales that occurred from January 1, 1996, through December 31, 2002. The form says you must file Schedule D-IS instead. Schedule D-IS and its instructions are available at mass.gov/dor.
What you'll need
The form refers to these documents and worksheets. Which ones you need depends on the lines that apply to you:
- U.S. Schedule D: amounts from lines 8a and 8b, column h, and lines 9 through 13.
- U.S. Form 1040: line 7a, if you did not file U.S. Schedule D.
- U.S. Form 4797, Part II: Massachusetts long-term capital gains and losses not included on Schedule D, lines 1 through 6.
- 2024 Massachusetts Schedule D: line 23, for prior-year carryover losses.
- Schedule B, Part 2: line 11 also receives the amount for long-term gains on collectibles and pre-1996 installment sales.
- Schedule C-2: allowable deductions from your trade or business.
- Worksheets: for long-term capital losses applied against interest and dividends, and for excess exemptions.
You also need your name and Social Security number for the top of the form.
Common mistakes
- Using Schedule D when Schedule D-IS is required. Check the form's warning about gains on stock in certain Massachusetts-based start-up corporations and installment sales that occurred from January 1, 1996, through December 31, 2002.
- Failing to mark a loss. The form tells you to mark an X in the box at the left when showing a loss.
- Using the wrong rate after choosing the optional rate. The note on line 22 says to multiply line 21 by .0585 if you choose the optional 5.85% tax rate.
Questions people ask
What do I enter on line 6 if I did not file U.S. Schedule D?
Enter the amount from U.S. Form 1040, line 7a.
Where do I report long-term gains on collectibles and pre-1996 installment sales?
Enter them on Schedule D, line 12, and also on Schedule B, Part 2, line 11. Schedule D subtracts this amount when calculating line 13.
How much long-term capital loss can be applied against interest and dividends?
Line 16 uses an amount from a worksheet and limits it to $2,000.
How is the tax on long-term capital gains calculated?
For tax year 2025, multiply taxable long-term capital gains on line 21 by .05. If choosing the optional 5.85% rate, multiply by .0585 instead. Enter the result on Schedule D, line 22, and on Form 1, line 24, or Form 1-NR/PY, line 28.
Where do carryover losses go?
For prior-year losses, line 8 uses the amount from 2024 Schedule D, line 23. For available losses to carry over, enter the amount from the 2025 Schedule D, line 17, on line 23 only if it is a loss.