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                                                        STATE OF HAWAII—DEPARTMENT OF TAXATION
      SCHEDULE D
      Form N-30/N-70NP
          (REV. 2018)                               Capital Gains and Losses                                                                                                         20_ _
                                                                To be filed with Form N-30 or N-70NP
Name                                                                                                                    Federal Employer Identification Number

    PART I         Short-term Capital Gains and Losses — Assets Held One Year or Less
              (a) Description of property           (b) Date              (c) Date                                      (e) Cost or other                                                  
              (Example, 100 shares                  acquired               sold               (d) Gross sales        basis, plus expense                                             (f) Gain or (loss) 
                   of “Z” Co.)                (Mo., day, yr.)        (Mo., day, yr.)               price                of sale                                                      (Col. (d), minus col. (e))
  1

    2Short-term capital gain from installment sales from federal Form 6252 ........................................................................                             2
    3Short-term gain or (loss) from like-kind exchanges from federal Form 8824 ................................................................                                 3
    4Corporation’s share of net short-term capital gain (loss), including specially allocated short-term capital gains 
      (losses), from partnerships, S corporations, estates, and trusts ...................................................................................                      4
    5Short-term gain from stock acquired through stock options from qualified high technology businesses ......................                                                 5  (                           )
  6  Unused capital loss carryover (attach computation) ......................................................................................................                  6  (                           )
  7  Net short-term gain or (loss). (Combine lines 1 through 6 in column (f)) ......................................................................                            7
  PART II           Long-term Capital Gains and Losses — Assets Held More Than One Year
  8

    9Enter IRC section 1231 gain from Schedule D-1, line 8 or 10 .......................................................................................                        9
    10Long-term capital gain from installment sales from federal Form 6252 .........................................................................                            10
 11   Long-term gain or (loss) from like-kind exchanges from federal Form 8824 .................................................................                                11
    12Corporation’s share of net long-term capital gain (loss), including specially allocated long-term capital gains 
      (losses), from partnerships, S corporations, estates, and trusts ...................................................................................                      12
    13Long-term gain from stock acquired through stock options from qualified high technology businesses .......................                                                13 (                           )
    14Capital gain distributions (See Instructions) ..................................................................................................................          14
 15   Net long-term gain or (loss). (Combine lines 8 through 14 in column (f)) ......................................................................                           15
  PART III          Summary of Schedule D Gains and Losses
    16Combine lines 7 and 15 .................................................................................................................................................  16 
      If amount on line 16 is a gain, enter this amount on Form N-30, page 1, line 6(a) 
      If amount on line 16 is a loss, see instructions on capital losses for explanation of capital loss carryforwards.
 17  Enter excess of net short-term capital gain (line 7) over net long-term capital loss (line 15) ........................................                                    17 
      For unitary business taxpayers, enter this amount on Form N-30, Schedule O, line 31(a), as applicable.
    18Net capital gain.  Enter excess of net long-term capital gain (line 15) over net short-term capital loss (line 7) ............                                            18 
      If line 6 is zero or a gain, enter amount of gain from line 15.  Also enter this amount on Form N-30, Schedule J, line 13. 
      For unitary business taxpayers, enter the portion of net capital gain wholly attributable to Hawaii on Form N-30, Schedule O, 
      line 31(b), as applicable.
                                                                                                                                                                                                                 
                                                                                                                                                                                          SCHEDULE D             
                                                                                                                                                                                   (FORM N-30/N-70NP)
N30N70NPSCHD_I 2018A 01 VID01                                       ID NO 01

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SCHEDULE D
FORM N-30/N-70NP
(REV. 2018) PAGE 2
GENERAL INSTRUCTIONS 3. Depreciable or real property used in the ness. — For Hawaii income tax purposes, all
trade or business, even if it is fully depreci- income earned and proceeds derived from stock
ATTENTION: ated. options or stock, including stock issued through
IN 1997, CONGRESS ENACTED LEGISLATION the exercise of stock options or warrants, from
WHICH MADE NUMEROUS CHANGES TO 4. Certain copyrights; literary, musical or artis- a qualified high technology business or from a
THE FEDERAL INCOME TAX LAW RELATING tic compositions; letters or memoranda; or holding company of a qualified high technology
TO THE CLASSIFICATION AND TAXATION OF similar property. business by an employee, officer, or director of
CAPITAL GAINS. HAWAII HAS NOT ADOPTED 5. U.S. Government publications, including the qualified high technology business, or inves-
ANY OF THESE CHANGES. the Congressional Record, received from tor who qualified for the high technology business
Purpose of Form the Government, other than by purchase at investment tax credit is excluded from income.
the normal sales price, or that the corpo- Use lines 5 and 13 to reduce the corporation’s
Schedule D should be used by a taxpayer ration got from another taxpayer who had capital gain for these amounts reported on other
who files Form N-30 or Form N-70NP, to report received it in a similar way, if the corpora- lines of Schedule D. Losses on sales or disposi-
sales or exchanges of capital assets, gains on tion’s basis is determined by reference to tions of stock obtained through options or war-
distributions to shareholders of appreciated capi- the previous owner’s basis. rants from a qualified high technology business
tal assets, and the corporation’s share of capital may be deducted. These losses are not added
gains and losses from partnerships, S corpora- 6. Certain commodities derivative financial back to income.
tions, estates, and trusts. Sales or exchanges instruments held by a dealer not in connec-
of property other than capital assets, including tion with its dealer activities.  For other items for special treatment, see
the federal Instructions for Schedule D (Form
property used in a trade or business, involuntary 7. Certain identified hedging transactions en- 1120).
conversions (other than casualties or thefts), and tered into in the normal course of the trade
gain from the disposition of interest in oil, gas, or business. How to Determine the Cost or Other
or geothermal property, should be reported on Basis of the Property
Schedule D-1, Sales of Business Property. See 8. Supplies regularly used in the trade or
instructions for Schedule D-1 for more informa- business. In determining gain or loss, the basis of prop-
tion. erty will generally be its cost (IRC section 1012).
Exchange of like-kind property. — A like-kind The exceptions to the general rule are provided
If property is involuntarily converted because exchange occurs when the corporation exchang- in sections contained in subchapters C, K, O,
of a casualty or theft, use federal Form 4684, Ca- es business or investment property for property and P of the IRC. For example, if the corporation
sualties and Thefts. of a like kind. Complete and attach to the tax re- acquired the property by dividend, liquidation of
turn federal Form 8824, Like-Kind Exchanges, for a corporation, transfer from a shareholder, bank-
Parts I and II each exchange. ruptcy or reorganization, bequest, contribution
Generally, a corporation should report the For exchanges of capital assets, enter the gain or or gift, tax-free exchange, involuntary conver-
sales and exchanges, including “like-kind” ex- loss from federal Form 8824, if any, on line 3 or sion, or wash sale of stock, see IRC sections 301
changes, even though there is no gain or loss. line 11 in column (f). (or 1059), 334, 362 (or 358), 1014, 1015, 1031,
No loss is allowed for a wash sale of stock or 1033, 1060, and 1091, respectively. Attach an
securities or from a transaction between related Lines 4 and 12. — Enter the corporation’s share explanation if the corporation uses a basis other
persons (Internal Revenue Code (IRC) sections of capital gains and losses from partnerships, S than actual cash cost of the property.
1091 and 267). corporations, estates, and trusts. See the Sched-
ule K-1 or other information supplied to the cor- If the corporation is allowed a charitable con-
In Part I, report the sale or exchange of capi- poration by the partnership, S corporation, es- tribution deduction because the corporation sold
tal assets held one year or less. In Part II, report tate, or trust. property to a charitable organization, figure the
the sale or exchange of capital assets held more adjusted basis for determining gain from the sale
than one year. Line 14. — Enter the total capital gain distribu- by dividing the amount realized by the fair market
tions paid by a regulated investment company value and multiplying that result by the adjusted
Capital Assets. — Each item of property a cor- (RIC) or a real estate investment trust (REIT) basis.
poration held (whether or not connected with its during the year, regardless of how long the cor-
trade or business) is a capital asset except: poration owned stock in the RIC or REIT. Also Capital Losses. — The amount of capital losses
1. Stock in trade or other property included in enter any amount received from a RIC or REIT allowed may not be more than capital gains. A net
inventory or held mainly for sale to custom- that qualifies as a distribution in complete liquida- capital loss may be carried forward 5 years as a
ers. tion under IRC section 332(b) and is designated short-term capital loss unless the corporation is a
by the RIC or REIT as a capital gain distribution. qualified high technology business, in which case
2. Accounts or notes receivable acquired in See IRC section 332(c). the loss may be carried forward 15 years. No car-
the ordinary course of the trade or busi- ryback of the net capital loss is allowed.
ness for services rendered or from the sale Special Rules for the Treatment of At-Risk Limitations (IRC section 465). — If the
of stock in trade or other property included Certain Gains and Losses corporation sold or exchanged an asset used in
in inventory or held mainly for sale to cus- an activity to which the at-risk rules apply, com-
tomers. Note: For more information, get IRS Publication
544, Sales and Other Dispositions of Assets. bine the gain or loss on the sale or exchange with
the profit or loss from the activity. If the corpo-
 Gains and losses on stock options or war- ration has a net loss from the activity, it may be
rants from a qualified high technology busi- subject to the at-risk rules.

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