PA-41 Schedule D: 2024 PA-41 Schedule D - Sale, Exchange, or Disposition of Property (PA-41 D) (2024)
Pennsylvania · Pennsylvania DOR · Used for tax years 2024
PA-41 Schedule D is used by estates and trusts to report sales, exchanges, or other dispositions of real or personal property, including tangible and intangible property. It calculates the total net gain or loss reported on Line 4 of PA-41, including installment sale gains, partn
Who files this form
Estates and trusts use PA-41 Schedule D to report sales, exchanges, or other dispositions of real property and tangible or intangible personal property.
Report these transactions on Schedule D unless the instructions require a different Pennsylvania schedule.
What you'll need
Have the following information and applicable schedules ready:
- Estate or trust identification: The complete name and FEIN or decedent’s Social Security number shown on PA-41. An estate with a FEIN should use that number, not the decedent’s Social Security number.
- Property transaction details: A description of each property, acquisition and sale dates, sales price or fair market value received, selling expenses, and cost or adjusted basis.
- Installment sales: PA Schedule D-1 (REV-1689). Use its Line 19 amount on Schedule D, Line 3.
- Property acquired before June 1, 1971: PA Schedule D-71 (REV-1742).
- Partnership or PA S corporation gains and losses: Submit all supporting PA-20S/PA-65 Schedules RK-1 or NRK-1. If income comes from more than one partnership or more than one PA S corporation, provide a statement listing each entity’s FEIN, name, and income amount.
- Federal Schedule K-1 copies, when applicable: Include federal Form 1065 Schedule K-1 if the partnership does not supply a PA Schedule RK-1. Include federal Form 1120S Schedule K-1 if the PA S corporation does not supply a PA Schedule RK-1. If only a federal Form 1120S Schedule K-1 is received, the estate or trust must obtain a PA Schedule RK-1 from the entity.
- Distributions: Have C corporation distribution amounts and stock basis information. For partnership distributions reported on Line 8, complete and submit REV-999. For PA S corporation distributions reported on Line 9, complete and submit REV-998.
Common mistakes
- Copying federal amounts without checking Pennsylvania rules. Amounts from federal Form 1041 Schedule D may not be correct for Pennsylvania purposes.
- Using the decedent’s Social Security number when the estate has a FEIN. The instructions say an estate with a FEIN should not use the decedent’s Social Security number.
- Claiming a loss on property that was not income-producing. If its cost or adjusted basis exceeds the sales amount in Column (d), enter zero in Column (f), not a loss.
- Leaving loss ovals blank. Fill in the oval next to a line when reporting a loss.
- Using the federal deemed sale election. Pennsylvania does not recognize that election.
- Freely adjusting a federal S corporation Schedule K-1 instead of obtaining the Pennsylvania schedule. If only a federal Form 1120S Schedule K-1 is received, obtain a PA Schedule RK-1. The department allows adjustment and reclassification of the federal information only in limited circumstances.
Questions people ask
Can I enter “VARIOUS” instead of individual dates?
Yes. For the acquisition date, you may enter “VARIOUS” if properties were acquired over time or you are entering a summary line for multiple transactions. For the sale date, you may enter “VARIOUS” when using a summary line for multiple transactions.
Can gains and losses offset each other?
The instructions allow gains and losses to be offset when calculating Line 2. However, property that was not income-producing does not generate a reportable loss under the Column (f) instructions. Enter zero if its basis exceeds the sales amount.
How do I report an installment sale?
Elect installment reporting by filing PA Schedule D-1 for the year of sale. That schedule is also required in later years when any payment is received. Enter its Line 19 amount on PA-41 Schedule D, Line 3.
Where does the Schedule D total go?
Add Lines 2 through 9 and enter the result on Line 10. Also enter the total net gain or loss on PA-41, Line 4. If the total is a loss, fill in the loss oval.