U.S. · Tax forms
Schedule D line 18, 28% rate gain.
Who completes the worksheet, what counts, and what goes on line 18.
Line 18 takes the amount from line 7 of the 28% Rate Gain Worksheet, but only if you checked Yes on line 17 and you reported a section 1202 exclusion on qualified small business stock or a collectibles gain or (loss) in Part II of Form 8949. Collectibles include art, antiques, coins, stamps, gems and metals such as gold bullion.
Look up a Schedule D line
Result
Schedule D line 18 on the 2025 form
The 2025 form prints this line as: “If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, if any, from line 7 of that worksheet.”
| Line | Meaning | What the IRS says |
|---|---|---|
| Line 17 | Are lines 15 and 16 both gains? | You get to line 18 only on Yes |
| Who completes it | Section 1202 exclusion or collectibles | Reported in Part II of Form 8949 |
| Worksheet line 1 | Collectibles gain or (loss) | Total from items on Form 8949, Part II |
| Worksheet line 2 | Section 1202 exclusion amounts | Positive number: all of a 50% exclusion, 2/3 of a 60% exclusion, 1/3 of a 75% exclusion; nothing for a 100% exclusion |
| Worksheet line 3 | Other forms | Collectibles from Form 4684 (if line 15 over zero), 6252, 6781 Part II, 8824 |
| Worksheet line 4 | Reported to you | Form 1099-DIV box 2d, Form 2439 box 1d, Schedule K-1 amounts |
| Worksheet 5-6 | Offsets | Long-term loss carryovers (Schedule D line 14; K-1 Form 1041 box 11 code D), and a loss on Schedule D line 7 |
| Worksheet line 7 | Combine lines 1 through 6 | If zero or less enter -0-; if more than zero also enter on Schedule D line 18 |
When the worksheet applies
If you checked Yes on line 17, the instructions say to complete the 28% Rate Gain Worksheet if either of these applies for 2025: you reported in Part II of Form 8949 a section 1202 exclusion from the eligible gain on qualified small business (QSB) stock, or you reported in Part II of Form 8949 a collectibles gain or (loss). Include gain, but not loss, from selling an interest in a partnership, S corporation or trust held more than one year that is attributable to unrealized appreciation of collectibles.
What is a collectible
A collectibles gain or (loss) is any long-term gain or deductible long-term loss from the sale or exchange of a collectible that is a capital asset. The instructions list works of art, rugs, antiques, metals (such as gold, silver and platinum bullion), gems, stamps, coins, alcoholic beverages and certain other tangible property.
Worked example
Gabe (made-up) sold gold bullion held for years for a $3,000 long-term gain, reported in Part II of Form 8949. Worksheet line 1 is $3,000, and lines 2 through 4 are zero. He has a long-term carryover of $500 (line 5, in parentheses) and Schedule D line 7 is a ($1,000) loss (line 6). Line 7 is $3,000 − $500 − $1,000 = $1,500, which he enters on Schedule D line 18.
Why it matters
A non-zero line 18 means you cannot use the plain Qualified Dividends and Capital Gain Tax Worksheet at line 20; the form sends you to the Schedule D Tax Worksheet. The rate calculators linked below are the place to model the tax.
More Schedule D line pages
Other pages in this set: Schedule D line 13, Schedule D line 15, Schedule D line 16, Schedule D line 19, Schedule D line 21.
Sources
- Instructions for Schedule D (Form 1040) (2025): the line-by-line instructions on this page. Page last reviewed or updated April 30, 2026. Read November 2, 2026.
- Schedule D (Form 1040) 2025: the printed line wording and arithmetic on the form. Read November 2, 2026.
Tax year 2025 edition (returns filed in 2026). Line numbers, dollar limits and wording are those printed in the 2025 form and instructions and change by year. Names in worked examples are made up.
Frequently asked questions
What is Schedule D line 18?
The amount from line 7 of the 28% Rate Gain Worksheet, if you are required to complete it.
Who has to complete the 28% Rate Gain Worksheet?
If you checked Yes on line 17: those who reported a section 1202 exclusion on QSB stock, or a collectibles gain or (loss), in Part II of Form 8949.
What are collectibles?
Works of art, rugs, antiques, metals such as gold, silver and platinum bullion, gems, stamps, coins, alcoholic beverages and certain other tangible property, when held as capital assets.
What if worksheet line 7 is zero or less?
Enter -0-. Only an amount more than zero is entered on Schedule D line 18.
What changes at line 20 if line 18 is above zero?
Line 20 asks whether lines 18 and 19 are both zero or blank and you are not filing Form 4952. If not, complete the Schedule D Tax Worksheet.
Not tax advice
This page summarizes IRS instructions, mostly written for the people who prepare the form, and is not tax, legal or financial advice. A CPA or an enrolled agent can confirm what a line means for your return. Everything runs in your browser; nothing you enter is sent anywhere.