Tax Guru-Ker$tetter Letter
Monday, January 09, 2006
Schedule D Controversy
Ed Zollars has a special follow-up podcast on the issue of Schedule D detail that I discussed earlier.
The IRS clarification letter he discusses can be downloaded here. Here is the IRS answer that is attracting the most attention:
Yes. Taxpayers may submit attachments in lieu of completing lines 1 and 8 on Schedule D or D-1 as long as the attachments contain all the required information and are in a similar format. This means investors may follow the same format required of traders.
Update from CCH on this issue.