Screen MAK1-7 - Massachusetts Schedule K-1 - PAL, Carryovers, PTP (1040)

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Overview

Use this screen to complete federal Schedule E with Massachusetts amounts, Recomputed Form 8582, Recomputed Form 4797, and Recomputed Form 8949. Amounts that appear in this screen are transferred from federal K1-7 Screen or K1-St Screen, the data transferred depends on the residency status of the return and the method of federal data entry. It is important to report any law differences and details in this screen.

Publicly Traded Partnership Information & Sales

Use this screen to complete federal Schedule E with Massachusetts amounts, Recomputed Form 8582, Recomputed Form 4797, and Recomputed Form 8949. Amounts that appear in this screen are transferred from federal K1-7 Screen, the data transferred depends on the residency status of the return and the method of federal data entry. It is important to report any law differences and details in this screen.
Sales information
Ordinary gains reported on Form 4797, Part II are reported on Massachusetts Schedule B, Part 2, line 12 by default. To report a portion or all of the ordinary gain on Massachusetts Schedule D, line 7, remove or adjust accordingly the Ordinary gain reported on MAK1-7 Screen, Sales information statement and enter the amount on MAK1-2 Screen, Form 4797 - Ordinary gains and losses (Included on Massachusetts Schedule D).

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