SCHEDULE D (Form 1040) Capital Gains and Losses 2010

Summary: This is an example of Schedule D (Form 1040) 2010 as pertains to the example in the text for Peter and Betty Clark. 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 3/5/68
8c. Date sold (month, day, year) field contains 2/5/10
8d. Sales price (see page D-7 of the instructions) field contains 695,000
8e. Cost or other basis (see page D-7 of the instructions) field contains 42,250
8f. Gain or (loss) Subtract (e) from (d) field contains 652,750
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 500,000
10. Total long-term sales price amounts. Add lines 8 and 9 in column (d) field contains 695,000
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 152,750

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