Form 100S Schedule D S Corporation Capital Gains and Losses and Built-In Gains - California

What Is Form 100S Schedule D?

This is a legal form that was released by the California Franchise Tax Board - a government authority operating within California. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 100S Schedule D?
A: Form 100S Schedule D is a tax form used by S corporations in California to report capital gains and losses and built-in gains.

Q: What is an S corporation?
A: An S corporation is a type of business entity that provides certain tax benefits, such as pass-through taxation.

Q: What are capital gains and losses?
A: Capital gains are the profits from the sale of assets, while capital losses are the losses incurred from the sale of assets.

Q: What is a built-in gain?
A: A built-in gain is a gain that is recognized when an S corporation sells an asset that has appreciated in value since the corporation's conversion from a C corporation.

Q: Why is it important to report capital gains and losses and built-in gains?
A: It is important to report capital gains and losses and built-in gains for tax purposes, as they may have an impact on the S corporation's tax liability.

Q: Who needs to file Form 100S Schedule D?
A: S corporations in California that have capital gains and losses or built-in gains need to file Form 100S Schedule D.

Q: Are there any specific instructions for completing Form 100S Schedule D?
A: Yes, specific instructions are provided by the California Franchise Tax Board. It is important to follow these instructions carefully when completing the form.

Q: When is the deadline for filing Form 100S Schedule D?
A: The deadline for filing Form 100S Schedule D is the same as the deadline for filing the S corporation's tax return, which is generally the 15th day of the 3rd month after the end of the corporation's taxable year.

Q: What happens if Form 100S Schedule D is not filed or filed incorrectly?
A: If Form 100S Schedule D is not filed or filed incorrectly, it may result in penalties or interest charges imposed by the California Franchise Tax Board.