title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Friday, August 15, 2003
 
2003 Schedule D
IRS has posted the latest draft of the 2003 Schedule D. What makes this year's form different than most others is the need to separate gains and losses that happened from January 1, 2003 through May 5, 2003 and those that occur from May 6, 2003 through December 31, 2003. The tax rates are lower for the gains in the second part of this year.

This shouldn't be too difficult for normal full cash sales. It will be the trickiest to keep straight for installment sales. You will need to provide your tax preparer with the total principal payments received from 1/1/03 to 5/5/03 and what is received between 5/6/03 and 12/31/03.






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