CalCPA affects change in capital gains reporting requirements.

The IRS, based on a comment letter from CalCPA's Committee on Taxation, has clarified its instructions for reporting capital gains and other investments on Form 1040, Schedule D.

The clarification can be found at www.irs.gov/formspubs/article/0,,id=109875,00.html.

An IRS letter to CalCPA expressing its thanks is available at www.calcpa.org.