1041-US: Changing the treatment of a sale (FAQ)

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Question

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

Answer

Information entered in force fields to control how a sale is reported. The statement dialog for the Capital gains / losses field on Screen Income in the Income folder provides a force column for the holding period to enter sales of capital assets. Enter 1 for short-term treatment, 2 for long-term treatment, or 3 for 28 percent rate treatment. Also, press F4 to view the options available.

Screens Sale and InstPY provide a treatment field. The following are the options available on these screens.

Related topic: 1041-US: Business and capital asset sale information FAQs

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