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Screen ALHome - Alabama Sale of Home (1040)
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Overview
Use this screen to indicate gain on sale of principal residence(s) for Schedule D.
Home Information
Use this section to indicate gain on sale of principal residence(s) for Schedule D.
Description
The description prints in the Kind of property column on Schedule D. The description transfers from the entry in the federal
Home
screen. Enter a different description in this field if you don't want to use the description that transfers from UltraTax/1040.State
The state postal code transfers from the entry in the federal
Home
screen. For residents, if the State postal code
entry is AL
, UltraTax CS reports gain from the sale of this residence in column C, Adjusted Gross Income Earned in Alabama, on Schedule D. For nonresidents and part-year residents, the State postal code
will need to be AL
. If the State postal code
entry is a state other than AL
, gain from the sale of this residence doesn't report on Schedule D, column C.Taxable gain on sale
The taxable gain as calculated on federal Sale of Home Worksheet 1 or 2 transfers to this field. Enter a different amount if you don't want to use the gain that transfers from UltraTax/1040.