Location: Westland, Michigan, United States

Graduate of Walsh Institute Of Accountancy (Now Walsh College) Michigan in 1959. Retired in 1987, but still active in the profession **World War II Veteran (Pacific) **PHONE 734-261-1979 **E-MAIL **(Domain Name CPASENSE Registered) **Mentioned in the Journal of Accountancy, SmartPros, Tax Prof Blog, CPA2BIZ, CPA Journal, AccountingWEB, CPATrendlines & More **Search Accounting Blogs: (Includes cpasense)**TOPICS - FINANCE - FEDERAL & MICHIGAN TAXES ** Making Sense Of Your Finance & Taxes

Friday, December 30, 2005

IRS 2005 Instructions Say All Transactions Be Shown on Schedule D (D-1)

There is much consternation in the tax blogosphere about the IRS's decision to crack down on the common practice of taxpayers and their preparers entering summary totals of capital gains and losses on Schedule D, with attached detailed schedules. The Instructions to the 2005 Schedule D (top of page 6) indicate that the IRS will insist that each individual stock trade be listed on Schedule D and D-1. if more than five entries

Taxpayer Alert: This could add to your preparer fee for keying in all the transactions


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