Glossary · US Tax
Schedule D
Schedule D reports capital gains and losses on a US return — from selling shares, funds, or property. For Americans in the UK it is where gains on UK assets are reported to the IRS, which can differ significantly from the UK CGT position.
Capital Gains and Losses (Form 1040)
In more detail
Schedule D summarises capital gains and losses, usually supported by Form 8949 detail. For Americans in the UK it captures gains on UK and other assets: shares, funds, and property sales. The US and UK often measure the same gain differently — different cost bases, different reliefs, different rates, and currency movement can create a US gain where there is little UK gain or vice versa.
Does Schedule D apply to your situation?
Cross-border tax turns on the detail of your circumstances. Book a consultation and we'll tell you exactly where you stand.