SCHEDULE D (Form 1040) Capital Gains and Losses 2008

Summary: This is an example of Schedule D (Form 1040) 2008 as pertains to the example in the text for Emily White. The line items completed are:

Under Part II: Long-Term Capital Gains and Losses--Assets Held More Than One Year:
8a. Description of property (Example: 100 shares XYZ Company) field contains main home
8b. Date acquired (month, day, year) field contains 9/3/97
8c. Date sold (month, day, year) field contains 1/12/08
8d. Sales price (see page D-7 of the instructions) field contains 180,000
8e. Cost or other basis (see page D-7 of the instructions) field contains 52,459
8f. Gain or (loss) Subtract (e) from (d) field contains 127,541
8a. Description of property (Example: 100 shares X.Y.Z. Company) field contains section 121 exclusion
8f. Gain or (loss) Subtract (e) from (d) field contains negative 125,750
10. Total long-term sales price amounts. Add lines 8 and 9 in column (d) field contains 180,000
15. Net long-term capital gain or (loss). Combine lines 8 through 14 in column (f). Then go to Part III on the back field contains 1,791