1065-US: Changing the type of gain (loss) that UltraTax CS automatically calculates (FAQ)

Alerts and notices

Question

How can I change the type of gain (loss) that UltraTax CS automatically calculates?

Answer

The type (long-term, short-term, etc.) of gain can be changed using the treatment and holding period codes in the following locations.

  • Use the drop-down list for the Treatment Force column for each sale in the statement dialog for the Detail schedule field in Screen D.
  • Use the drop-down list for the Holding Period column for each sale in the statement dialog for the Gross sales price field in Screen 6781.
  • Use the drop-down list for the Treatment field for each disposition in Screens 8824, 8824PT, K1Sale, Sale, SalePT, and InstPY.
  • Use the drop-down list for the Holding period field for each casualty or theft in Screens 4684 and 4684PY.

The amount of unrecaptured section 1250 gain can be forced in Screen K. When there is enough detail entered in Screen 8824, Sale, or InstPY, UltraTax CS automatically calculates this amount.

Related topic: Forms 4684, 4797, 6252, and 8824 and Schedule D FAQs (1065)