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Future of professionals report 2025
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Screen MAK1Sale - Massachusetts Sale of Section 179 Assets (1040)
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Overview
Use this screen to complete the state version of federal Form 4797 and Schedule D. Amounts that appear in this screen are transferred from federal K1Sale Screen. It is important to report any state-related law differences and details in this screen. Amounts in this screen are ignored on the state versions of Form 4797 and Schedule D if the
Exclude K-1 pass-through sales from Form 4797 calculation
field in MAK1-2 Screen is marked.For resident returns, all information from federal K1Sale Screen transfers to UltraTax/1040-MA. For nonresident and part-year resident returns, information entered in federal K1Sale Screen transfers only if the postal code entered for the asset is
MA
.General Information
State use
Enter
1
to indicate that a current year installment sale does not qualify for installment sale treatment for Massachusetts purposes. If 1
is entered, the installment sale information is disregarded and the entire gain / loss transfers to the return.State does not conform to section 179 QRP treatment
UltraTax CS automatically marks this checkbox to indicate that the corresponding federal sale of section 179 QRP does not apply for state purposes, so the sale is not reported. The screen is completed for consistency with the corresponding federal screen unit.