title = "Schedule D Capital Gains and Losses"

content = """
Schedule D reports sales and exchanges of capital assets. Gains and losses are
short-term (one year or less) or long-term (more than one year). Marble Column
CPA reconciles broker 1099-Bs, applies proper basis, and nets gains and losses
correctly.

**Netting Rules:** Short-term gains and losses net. Long-term gains and losses
net. Then short-term and long-term net results combine. Up to $3,000 of net
capital loss may offset ordinary income; excess carries forward.

**Basis:** Cost basis includes purchase price plus commissions. Adjust for splits,
dividends reinvested, and return of capital. Inherited property generally has
stepped-up basis as of date of death. Gifts retain donor's basis for gain
(and for loss, the lesser of donor basis or FMV).

**Reporting:** Form 8949 details each transaction. Match to 1099-B; explain
adjustments (basis, wash sales) in the code columns. Broker-reported cost basis
may be incorrect; verify with client records.
"""  # noqa: E501

version = "0.0.1"
