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Hawaii Free Printable Schedule D Form N-30/N-70NP Rev 2018 Capital Gains and Losses for 2021 Hawaii Capital Gains and Losses

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Capital Gains and Losses
Schedule D Form N-30/N-70NP Rev 2018 Capital Gains and Losses

Clear Form SCHEDULE D Form N-30/N-70NP (REV. 2018) STATE OF HAWAII—DEPARTMENT OF TAXATION Capital Gains and Losses Name Federal Employer Identification Number PART I 20_ _ To be filed with Form N-30 or N-70NP Short-term Capital Gains and Losses — Assets Held One Year or Less (a) Description of property (Example, 100 shares of “Z” Co.) (b) Date acquired (Mo., day, yr.) (c) Date sold (d) Gross sales (Mo., day, yr.) price (e) Cost or other basis, plus expense of sale (f) Gain or (loss) (Col. (d), minus col. (e)) 1 2 Short-term capital gain from installment sales from federal Form 6252......................................................................... 3 Short-term gain or (loss) from like-kind exchanges from federal Form 8824................................................................. 4 Corporation’s share of net short-term capital gain (loss), including specially allocated short-term capital gains (losses), from partnerships, S corporations, estates, and trusts.................................................................................... 5 Short-term gain from stock acquired through stock options from qualified high technology businesses....................... 6 Unused capital loss carryover (attach computation)....................................................................................................... 7 Net short-term gain or (loss). (Combine lines 1 through 6 in column (f))....................................................................... PART II 2 3 4 5 6 7 ( ) ( ) Long-term Capital Gains and Losses — Assets Held More Than One Year 8 9 10 11 12 Enter IRC section 1231 gain from Schedule D-1, line 8 or 10........................................................................................ 9 Long-term capital gain from installment sales from federal Form 6252.......................................................................... 10 Long-term gain or (loss) from like-kind exchanges from federal Form 8824.................................................................. 11 Corporation’s share of net long-term capital gain (loss), including specially allocated long-term capital gains (losses), from partnerships, S corporations, estates, and trusts.................................................................................... 12 13 Long-term gain from stock acquired through stock options from qualified high technology businesses........................ 13 14 Capital gain distributions (See Instructions)................................................................................................................... 14 15 Net long-term gain or (loss). (Combine lines 8 through 14 in column (f))....................................................................... 15 PART III ( ) Summary of Schedule D Gains and Losses 16 Combine lines 7 and 15.................................................................................................................................................. 16 If amount on line 16 is a gain, enter this amount on Form N-30, page 1, line 6(a) If amount on line 16 is a loss, see instructions on capital losses for explanation of capital loss carryforwards. 17 Enter excess of net short-term capital gain (line 7) over net long-term capital loss (line 15)......................................... 17 For unitary business taxpayers, enter this amount on Form N-30, Schedule O, line 31(a), as applicable. 18 Net capital gain. Enter excess of net long-term capital gain (line 15) over net short-term capital loss (line 7)............. 18 If line 6 is zero or a gain, enter amount of gain from line 15. Also enter this amount on Form N-30, Schedule J, line 13. For unitary business taxpayers, enter the portion of net capital gain wholly attributable to Hawaii on Form N-30, Schedule O, line 31(b), as applicable. N30N70NPSCHD_I 2018A 01 VID01 ID NO 01 SCHEDULE D (FORM N-30/N-70NP) SCHEDULE D FORM N-30/N-70NP (REV. 2018) GENERAL INSTRUCTIONS ATTENTION: IN 1997, CONGRESS ENACTED LEGISLATION WHICH MADE NUMEROUS CHANGES TO THE FEDERAL INCOME TAX LAW RELATING TO THE CLASSIFICATION AND TAXATION OF CAPITAL GAINS. HAWAII HAS NOT ADOPTED ANY OF THESE CHANGES. Purpose of Form Schedule D should be used by a taxpayer who files Form N-30 or Form N-70NP, to report sales or exchanges of capital assets, gains on distributions to shareholders of appreciated capital assets, and the corporation’s share of capital gains and losses from partnerships, S corporations, estates, and trusts. Sales or exchanges of property other than capital assets, including property used in a trade or business, involuntary conversions (other than casualties or thefts), and gain from the disposition of interest in oil, gas, or geothermal property, should be reported on Schedule D-1, Sales of Business Property. See instructions for Schedule D-1 for more information. If property is involuntarily converted because of a casualty or theft, use federal Form 4684, Casualties and Thefts. Parts I and II Generally, a corporation should report the sales and exchanges, including “like-kind” exchanges, even though there is no gain or loss. No loss is allowed for a wash sale of stock or securities or from a transaction between related persons (Internal Revenue Code (IRC) sections 1091 and 267). In Part I, report the sale or exchange of capital assets held one year or less. In Part II, report the sale or exchange of capital assets held more than one year. Capital Assets. — Each item of property a corporation held (whether or not connected with its trade or business) is a capital asset except: 1. Stock in trade or other property included in inventory or held mainly for sale to customers. 2. Accounts or notes receivable acquired in the ordinary course of the trade or business for services rendered or from the sale of stock in trade or other property included in inventory or held mainly for sale to customers. PAGE 2 3. Depreciable or real property used in the trade or business, even if it is fully depreciated. 4. Certain copyrights; literary, musical or artistic compositions; letters or memoranda; or similar property. 5. U.S. Government publications, including the Congressional Record, received from the Government, other than by purchase at the normal sales price, or that the corporation got from another taxpayer who had received it in a similar way, if the corporation’s basis is determined by reference to the previous owner’s basis. 6. Certain commodities derivative financial instruments held by a dealer not in connection with its dealer activities. 7. Certain identified hedging transactions entered into in the normal course of the trade or business. 8. Supplies regularly used in the trade or business. Exchange of like-kind property. — A like-kind exchange occurs when the corporation exchanges business or investment property for property of a like kind. Complete and attach to the tax return federal Form 8824, Like-Kind Exchanges, for each exchange. For exchanges of capital assets, enter the gain or loss from federal Form 8824, if any, on line 3 or line 11 in column (f). Lines 4 and 12. — Enter the corporation’s share of capital gains and losses from partnerships, S corporations, estates, and trusts. See the Schedule K-1 or other information supplied to the corporation by the partnership, S corporation, estate, or trust. Line 14. — Enter the total capital gain distributions paid by a regulated investment company (RIC) or a real estate investment trust (REIT) during the year, regardless of how long the corporation owned stock in the RIC or REIT. Also enter any amount received from a RIC or REIT that qualifies as a distribution in complete liquidation under IRC section 332(b) and is designated by the RIC or REIT as a capital gain distribution. See IRC section 332(c). Special Rules for the Treatment of Certain Gains and Losses Note: For more information, get IRS Publication 544, Sales and Other Dispositions of Assets.   Gains and losses on stock options or warrants from a qualified high technology busi- ness. — For Hawaii income tax purposes, all income earned and proceeds derived from stock options or stock, including stock issued through the exercise of stock options or warrants, from a qualified high technology business or from a holding company of a qualified high technology business by an employee, officer, or director of the qualified high technology business, or investor who qualified for the high technology business investment tax credit is excluded from income. Use lines 5 and 13 to reduce the corporation’s capital gain for these amounts reported on other lines of Schedule D. Losses on sales or dispositions of stock obtained through options or warrants from a qualified high technology business may be deducted. These losses are not added back to income.   For other items for special treatment, see the federal Instructions for Schedule D (Form 1120). How to Determine the Cost or Other Basis of the Property In determining gain or loss, the basis of property will generally be its cost (IRC section 1012). The exceptions to the general rule are provided in sections contained in subchapters C, K, O, and P of the IRC. For example, if the corporation acquired the property by dividend, liquidation of a corporation, transfer from a shareholder, bankruptcy or reorganization, bequest, contribution or gift, tax-free exchange, involuntary conversion, or wash sale of stock, see IRC sections 301 (or 1059), 334, 362 (or 358), 1014, 1015, 1031, 1033, 1060, and 1091, respectively. Attach an explanation if the corporation uses a basis other than actual cash cost of the property. If the corporation is allowed a charitable contribution deduction because the corporation sold property to a charitable organization, figure the adjusted basis for determining gain from the sale by dividing the amount realized by the fair market value and multiplying that result by the adjusted basis. Capital Losses. — The amount of capital losses allowed may not be more than capital gains. A net capital loss may be carried forward 5 years as a short-term capital loss unless the corporation is a qualified high technology business, in which case the loss may be carried forward 15 years. No carryback of the net capital loss is allowed. At-Risk Limitations (IRC section 465). — If the corporation sold or exchanged an asset used in an activity to which the at-risk rules apply, combine the gain or loss on the sale or exchange with the profit or loss from the activity. If the corporation has a net loss from the activity, it may be subject to the at-risk rules.
Extracted from PDF file 2020-hawaii-form-n-30-n70-sch-d.pdf, last modified September 2003

More about the Hawaii Form N-30-N70 Sch. D Corporate Income Tax TY 2020

We last updated the Capital Gains and Losses in April 2021, so this is the latest version of Form N-30-N70 Sch. D, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form N-30-N70 Sch. D directly from TaxFormFinder. You can print other Hawaii tax forms here.

Related Hawaii Corporate Income Tax Forms:

TaxFormFinder has an additional 164 Hawaii income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Hawaii Form N-30-N70 Sch. D.

Form Code Form Name
Form N-301 Application for Automatic Extension of Time to File Hawaii Corporation Income Tax Return
Form N-30 Corporation Income Tax Return
Form N-30 Sch. O&P Ins Instructions for Schedules O & P
Form N-303 Authorization and Consent of Subsidiary Corporation to be Included in a Consolidated Income Tax Return
Form N-30 Sch. O Allocation and Apportionment of Income
Form N-30 Sch. P Apportionment Formula (Form N-30)
Form N-304 Affiliations Schedule (Rev. 2004)
Form N-305 Application for International Carriers of Foreign Countries Claiming Exemptions Under Section 235-7(a)(8), HRS
Form N-309 Corporation Application for Tentative Refund from Carryback of Net Operating Loss

Download all HI tax forms View all 165 Hawaii Income Tax Forms


Form Sources:

Hawaii usually releases forms for the current tax year between January and April. We last updated Hawaii Form N-30-N70 Sch. D from the Department of Taxation in April 2021.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Hawaii Form N-30-N70 Sch. D

We have a total of six past-year versions of Form N-30-N70 Sch. D in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 Form N-30-N70 Sch. D

Schedule D Form N-30/N-70NP Rev 2018 Capital Gains and Losses

2018 Form N-30-N70 Sch. D

Schedule D Form N-20 Rev 2018 Capital Gains and Losses

2017 Form N-30-N70 Sch. D

Schedule D Form N-20 Rev 2017 Capital Gains and Losses

2016 Form N-30-N70 Sch. D

Schedule D Form N-20 Rev 2016 Capital Gains and Losses

Forms 2013 2015 Form N-30-N70 Sch. D

Schedule D Form N-30/N-70NP Rev 2013 Capital Gains and Losses

Forms 2008 2011 Form N-30-N70 Sch. D

Schedule D Form N-30/N-70NP Rev 2008 Capital Gains and Losses


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