To enter the sale of a business-use or personal-use asset, calculate the gain/loss from that sale and manually enter that amount in the applicable field.
Notes
- Planner CS does not have fields for sales price, basis, or expenses.
- To enter sales that are imported from UltraTax CS, see Importing sales from UltraTax CS.
Entering the sale of a business-use asset
When a business-use asset is sold within an activity, such as a rental property, enter the gain/loss in the applicable fields on the following tabs.
- Enter the sale of an asset from a passive activity on the Activities > Data Entry button > 8582 G/L tabs.
- Enter the sale of an asset from a non-passive activity on the Income > Cap G/L tab or Form 4797 tab.
Note: For information regarding unrecaptured section 1250 gains, see Example: Entering unrecaptured Section 1250 gains.
Entering the sale of a personal-use asset
Enter the gain/loss on the applicable tab under the Income button, such as the Cap G/L, Form 4797, or 28% G/L tabs.
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