A 28% rate gain or loss is:
- Any collectibles gain or loss, or
- The part of your gain on qualified small business stock that is equal to the section 1202 exclusion.
If this applies, check the 28% Gain box during your interview.
To determine amount of 28% Gain, fill out the worksheet on Schedule D Instructions Page D-8.
Gain from the sale of collectibles. Report any collectibles (28%) gain (loss) included on lines 8 through 14 on line 9b of Schedule K (and each partner's share in box 9b of Schedule K-1). A collectibles (28%) gain (loss) is any long-term gain or deductible long-term loss from the sale or exchange of a collectible that is a capital asset.
Collectibles include works of art, rugs, antiques, metals (such as gold, silver, and platinum bullion), gems, stamps, coins, alcoholic beverages, and certain other tangible property.
Report any 28% gain or loss from a sale or exchange of a collectible on Form 8949, Part II (with the appropriate box checked). See the Instructions for Form 8949.