Tax Law (Questions About Taxes)/capital gains


Dear Mr. Stancil:  In 2015 I sold rental real estate property.  I understand that I report my long term capital gains in Part I of 4797 and that I carry LCG to Schedule D, line 11.  I have more than enough long term capital loss carryover on line 14 of schedule D to offset this gain and carry a net loss of ($3000.00) to Line 13 of form 1040.  But what I don't understand is line 14 of form 1040 where it seems that I should reenter the LCG from 4797.  That's double counting.  Isn't it?  I would very much appreciate your explanation on what should be done here.  Thank you.

A huts,

Thanks for your question.

It's not double counting because line 14 is for other gains and losses from Form 4797. You are dealing with a capital gain, not other gains. Your amount does not go on line 14. Line 14 is for amounts on line 18b of 4797.

Hope this helps.

John Stancil, CPA  

Tax Law (Questions About Taxes)

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

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