These instructions explain how to complete Schedule D (Form 1040). Complete Form 8949 before you complete line 1b, 2, 3, 8b, 9, or 10 of Schedule D.Sixteen states levy capital stock taxes (often called state franchise taxes, though some states use that term for different types of taxes as well). Here is an outline of the steps you need to follow in order to form a corporation (specifically, a "C corporation") in Virginia. Start a Corporation in Virginia. Unlike an asset sale, a taxable stock sale does not result in the recognition of taxable income or loss at the corporate level. Complete VA Form 26-6393, Loan Analysis, in conjunction with a careful review of the loan application and supporting documentation. In this guide, you'll find information on naming your corporation, getting a Registered Agent, the fees you'll need to pay, business taxes and much more. That is good, because long-term capital gains are taxed at a rate that is lower than your regular tax rate. You may owe capital gains taxes if you sold stocks, real estate or other investments.