AR Capital Gains Schedule - AR1000D
The AR1000D form is used by Arkansas residents to report capital gains and losses for state income tax purposes. This form is required if you have a capital gain or loss reported on your federal Schedule D, or if you have a gain reported on federal Form 1040, line 7.
Key Features of Form AR1000D
- Long-Term Capital Gains: Only 50% of net long-term capital gains are taxed in Arkansas.
- Short-Term Capital Gains: 100% of short-term capital gains are taxed.
- Exemption for Large Gains: Per Act 1488 of 2013, any net capital gain exceeding $10,000,000 from a gain realized on or after January 2014 is exempt from Arkansas state tax.
- Capital Loss Limitations: The amount of capital loss that can be deducted after offsetting capital gains is limited to $3,000 ($1,500 per taxpayer if filing status 4 or 5).
How to Complete Form AR1000D
Follow these steps to complete the form:
- Enter the federal long-term capital gain or loss from Schedule D, line 15, or Form 1040, line 7.
- Adjust for any depreciation differences between federal and Arkansas amounts.
- Calculate the Arkansas long-term capital gain or loss by adding or subtracting the adjustment.
- Enter federal short-term capital gain, if any, from Schedule D, line 7.
- Adjust for depreciation differences for short-term gains.
- Calculate the Arkansas net short-term capital loss.
- Compute the total Arkansas net capital gain or loss by combining lines 6 and 3.
- If the net gain exceeds $10,000,000, enter $10,000,000; otherwise, enter the full amount.
Software Navigation for AR1000D
To add Form AR1000D in Online Taxes (OLT) software:
- From within your tax return (online), click on "State" in the left menu (or tap the three dots in the top-right corner for mobile devices).
- Select "Start or Revisit Arkansas State."
- Navigate to the "Adjustments" section and locate Form AR1000D (Capital Gain).
- Follow the on-screen instructions to complete the form.
Source:
Form AR1000D - Capital Gains
Disclaimer: Always verify details with official Federal or State Department of Revenue Forms and Instructions.