3 Questions
What is reported on Form 1040, Schedule D, Line 14?
Income or losses from the sale of property used in a trade or business that was not reported elsewhere on the return
Which of the following is not an example of other gains or losses that may be reported on Line 14 of Schedule D?
Gains or losses from the sale of stocks
How is the gain or loss from the sale of property calculated?
By subtracting the adjusted basis of the property from the amount it was sold for
Study Notes
Test your knowledge on reporting gains and losses from the sale of business and rental property on Form 1040, Schedule D, Line 14. Take this quiz to learn about other types of gains and losses that may be reported on this line and improve your understanding of the tax reporting process.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
