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2008 Tax Guide (8.56MB) Print this page
 Capital Gain Distributions
If you received capital gain distributions in 2008, your Tax Information Statement may include a separate Capital Gain Distributions section. If your statement includes this section, your capital gain distributions may consist of Unrecaptured Section 1250 Gain, Section 1202 Gain, Collectibles (28%) Gain, or Long-Term Capital Gain Distributions.
 
A. TOTAL CAPITAL GAIN DISTRIBUTIONS (BOX 2a)
Total capital gain distributions (long-term) from a mutual fund or REIT are included in this section of your Tax Information Statement in Box 2a. Report total capital gain distributions on Form 1040, Schedule D, line 13, regardless of how long you held your investment. If your capital gain distributions contain additional classifications, your Tax Information Statement will include a separate Capital Gain Distributions section (see Boxes 2b through 2d below).
   
B. UNRECAPTURED SECTION 1250 GAIN (BOX 2b), SECTION 1202 GAIN (BOX 2c), COLLECTIBLES (28%) GAIN (BOX 2d)
  If your Tax Information Statement contains amounts in any of these sections, see the instructions for IRS Form 1040, Schedule D (Capital Gains and Losses) for information on how to report this income. Simplified Reporting Method: If your only capital gains and losses are capital gain distributions, and if no amount is shown in Boxes 2c through 2d, you may be able to avoid filing Schedule D by reporting your capital gain distributions directly on IRS Form 1040, line 13. See the instructions for IRS Form 1040 for more information on this simplified method of reporting capital gain distributions.
   
C. Long-Term Capital Gain Distributions
This amount reflects the long-term capital gains distributed by mutual funds. This amount is included in the Total Capital Gain Distributions (Box 2a) column.