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MI-1040D 546026 7 2016 MICHIGAN Adjustments of Capital Gains and Losses MI-1040D

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Michigan Department of Treasury (Rev. 05-16), Page 1 of 2
2016 MICHIGAN Adjustments of Capital Gains and Losses MI-1040D
Issued under authority of Public Act 281 of 1967, as amended.
Attach to Form MI-1040. Type or print in blue or black ink. Print numbers like this: 0123456789 - NOT like this: 1 4
Round all money items to whole dollars. Attachment 15
Filer’s First Name M.I. Last Name
Filer’s Full Social Security No. (Example: 123-45-6789)
If a Joint Return, Spouse’s First Name M.I. Last Name
Spouse’s Full Social Security No. (Example: 123-45-6789)
SHORT
D E
Federal Gain (Loss) Michigan Gain (Loss)
PART 1:
-TERM CAPITAL GAINS AND LOSSES
(ASSETS HELD ONE YEAR OR LESS)
1.
Combine short-term totals from MI-8949, line 2 and U.S. Form 1040
Schedule D, line 1a, column h.............................................................. 1.
Federal Gain (Loss) from Gain (Loss) from Column D
Column h of U.S. Schedule D subject to Michigan income tax
2. Short-term gain from U.S. Form 6252, and short-term
gain (loss) from U.S. Forms 4684, 6781 and 8824............................... 2.
3. Net short-term gain (loss) from partnerships,
S corporations and duciaries from Schedule(s) K-1 ........................... 3.
4. Short-term capital loss carryover from 2015......................................... 4.
( ) ( )
5. Net short-term gain (loss), combine lines 1 through 4
.......................... 5.
PART 2:
LONG-TERM CAPITAL GAINS AND LOSSES
D E
(ASSETS HELD MORE THAN ONE YEAR)
Federal Gain (Loss) Michigan Gain (Loss)
6.
Combine long-term totals from MI-8949, line 4 and U.S. Form 1040
Schedule D, line 8a, column h .............................................................. 6.
Federal Gain (Loss) from Gain (Loss) from Column D
Column h of U.S. Schedule D subject to Michigan income tax
7.
Gain from U.S. Form 4797; long-term gain from U.S. Forms 2439 and
6252; and long-term gain (loss) from U.S. Forms 4684, 6781 and 8824 ...
7.
8. Net long-term gain (loss) from partnerships,
S corporations and duciaries from Schedule(s) K-1 ........................... 8.
9. Capital gain distributions ...................................................................... 9.
10. Long-term capital loss carryover from 2015 ......................................... 10.
(
. 11.
) ( )
11 Net long-term gain (loss),combine lines 6 through 10 ..........................
PART 3: SUMMARY OF SHORT- AND LONG-TERM GAINS AND LOSSES
Col. F - Federal Col. G - Mich.
12.
Combine lines 5 and 11 of column D, and enter on line 12, column F.
Combine lines 5 and 11 of column E, and enter on line 12, column G.
GAIN. If line 12 is a gain, carry the gain amount in column F to Schedule 1,
line 12, and carry the gain amount in column G to Schedule 1, line 3. Nonresidents
and part-year residents, see instructions for Schedule NR, line 8 ................................
12.
13.
LOSS. If line 12 shows a loss, enter in each column the smaller of
(a) The loss on line 12; or (b) $3,000 (if married ling separately, $1,500). Carry loss
amount in column F to Schedule 1, line 5, as a positive amount. Carry loss amount
in column G to Schedule 1, line 22, as a positive amount. Nonresidents and part-year
residents, see instructions for Schedule NR, line 8 .......................................................
13.
+ 0000 2016 65 01 27 1 Continued on Page 2.
Reset Form
2016 MI-1040D, Page 2 of 2
Filer’s Full Social Security Number
PART 4:
COMPUTATION OF CAPITAL LOSS CARRYOVERS
FROM 2016 TO 2017
Col. F - Federal Col. G - Mich.
14. Enter the amount from U.S. Form 1040, line 41, in both columns.
If the amount is a loss, enclose in parentheses......................................................... 14.
15. Enter the loss from line 13 as a positive amount .................................................... 15.
16. Combine lines 14 and 15. If less than zero, enter “0” ............................................. 16.
17. Enter the smaller of line 15 or line 16 ..................................................................... 17.
NOTE: If line 5 and line 13 are losses, go to line 18; otherwise, skip lines 18 through 22.
18. Enter the loss from line 5, columns D and E, as a positive amount ....................... 18.
19. Enter the gain, if any, shown on line 11, columns D and E ..................................... 19.
20. Enter the amount shown on line 17 ........................................................................ 20.
21. Add lines 19 and 20 ................................................................................................ 21.
22. Short-term capital loss carryover to 2017.
Subtract line 21 from line 18. If less than zero, enter “0” ........................................ 22.
NOTE: If line 11 and line 13 are losses, go to line 23; otherwise, skip lines 23 through 29.
23. Enter the loss from line 11, columns D and E, as a positive amount
...................... 23.
24. Enter the gain, if any, from line 5, columns D and E ............................................... 24.
Enter the amount from line 17 ................................................................................ 25. 25.
26. Enter the amount, if any, from line 18 ..................................................................... 26.
Subtract line 26 from line 25. If less than zero, enter “0”27. ........................................ 27.
28. Add lines 24 and 27 ................................................................................................ 28.
29. Long-term capital loss carryover to 2017.
Subtract line 28 from line 23. If less than zero, enter “0” ........................................ 29.
+ 0000 2016 65 02 27 9
Instructions for Completing Form MI-1040D
When to File
NOTE: Only use this form to adjust your Michigan taxable
income if you have capital gains or losses attributable to one
of the following:
• Gains or losses from the sale of certain types of
properties located in other states and/or subject to the
allocationandapportionmentprovisions;or
• Periods before October 1, 1967 (Section 271
adjustment). If you file U.S. Form 1040 Schedule D or
Form 4797andyouelecttoadjustunderSection271ofthe
Michigan Income Tax Act, you must file the equivalent
Michigan forms (MI-1040D or MI-4797). You must
include all items of gain or loss realized during the tax
year;or
• Gains or losses from the sale or exchange of U.S.
obligationsthatcannotbetaxedbyMichigan.
General Information
Michigan Form MI-1040D follows the U.S. Schedule D
and
alltheinformationnecessaryforcompleting
FormMI-1040D
shouldbetakenfromyourU.S. Schedule D.
Form MI-1040D computations must be carried to
Schedule
1. Both forms (MI-1040D and Schedule1) must
beattachedtoyourFormMI-1040.
Do not include on this form any gains or losses included
in the business income subject to apportionment on
Schedule H and reported on Schedule 1, line 4 or 13.
Rounding Dollar Amounts
Showmoneyitemsaswholedollaramounts.Rounddown
amounts less than 50 cents. Round up amounts of 50
through99cents.Donotentercents.
Identication
Be sure to enter your name(s) and Social Security
number(s)atthetopoftheform.
Parts 1 and 2
Lines not listed are explained on the form.
Federal Information
Line 1. The amount entered on this line includes a
combined total from both the MI-8949, line 2 and
U.S.Form1040Schedule D,line1a,columnh.
For lines 2, 3, 4, 7, 8, 9 and 10, column D, enter the
amounts from U.S. Form 1040 Schedule D, for the
correspondinglinenumberslistedbelow:
MI-1040D U.S. Schedule D
24
35
46
711
8 12
9 13
10 14
Line 6. The amount entered on this line includes a
combined total from both the MI-8949, line 4 and
U.S.Form1040 Schedule D,line8a,columnh.
Michigan Gain or Loss
Enter the portion of federal gain and loss subject to
Michigan income tax on lines 2, 3, 4, 7, 8, 9 and 10,
columnE.
Part 3
Follow the instructions on Form MI-1040D to exclude
portionsofcapitalgainsorlossesthatcannotbetaxedby
Michigan.
NOTE: Whenfiguringwhichnegativenumberissmaller,
treat both numbers as if they were positive. Enter the
numberonline13asapositiveamountonSchedule 1.
Part 4
Part4issimilartotheCapitalLossCarryoverWorksheet
from the U.S. Schedule Dinstructions.Followthe
instructions on the MI-1040D. Enter federal figures in
columnFandMichiganfiguresincolumnG.Online14,
columnG,enterthesamefigureyouenteredincolumnF.
2016 MI-1040D, Page 3
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MI-1040D 546026 7 2016 MICHIGAN Adjustments of Capital Gains and Losses MI-1040D

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