"John R. Reyes" <jreyes.dallas[at]att.net> writes:

- quote -

You report capital gains from stock sales on Schedule D. This has
nothing to do with whether or not you itemize deductions (since this
is income, not a deduction).

Schedule D is a lot more complicated than it needs to be for something
like this. You need to know how much you originally paid for the
shares you sold, and when you bought and sold them (so you can
classify your gain as long-term or short-term). Once you put those
numbers on the appropriate place in the form, the rest is just
number-crunching. Read the instructions, or use some tax software to
help you fill out the rest of the form.

-Sandra

We just sold some stock in 2003 for a downpayment on a new home last year.
We have all the stock purchase info, since it was done through an employer's
stock purchase plan. We normally do not itemize, so can someone please walk
us through the tax forms and other procedures required to file our taxes for
2003. The stock was purchased in years, none in 2003 or 2002, so I believe
the new 15% capital gains tax rate would apply?

TIA, JR