1040-US: Designating a sale as long-term or short-term

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Question

How do I change a sale from long-term to short-term treatment or vice versa?

Answer

UltraTax CS provides force fields that allow you to control how a sale is reported. Sales of capital assets entered in Screen B&D's Schedule for detail statement dialog provides a force column for your use. Enter 1 for short-term treatment, 2 for long-term treatment, or 3 for 28 percent rate treatment. You may also press F4 to view the options available.

Screens Sale and InstPY provide a treatment field for your use. The options available on these screens are:

Related topic: Business and capital asset sale information FAQs (1040)

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