Form N-35 Schedule D Capital Gains and Losses and Built-In Gains - Hawaii

What Is Form N-35 Schedule D?

This is a legal form that was released by the Hawaii Department of Taxation - a government authority operating within Hawaii.The document is a supplement to Form N-35, S Corporation Income Tax Return. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form N-35?
A: Form N-35 is a tax form used by residents of Hawaii to report their capital gains and losses and built-in gains.

Q: What is Schedule D on Form N-35?
A: Schedule D is a specific section on Form N-35 where residents of Hawaii report their capital gains and losses and built-in gains.

Q: What are capital gains and losses?
A: Capital gains are profits from the sale of assets like stocks or real estate. Capital losses are losses from the sale of such assets.

Q: What are built-in gains?
A: Built-in gains are gains realized by a corporation that was previously a C corporation, and converted to an S corporation.

Q: Who needs to file Form N-35 Schedule D?
A: Residents of Hawaii who have capital gains, losses, or built-in gains need to file Form N-35 Schedule D.