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Screen CAInstPY - California Prior Year Installment Sale (1120)

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General Information

Treatment
The treatment code describes the nature of the asset and tells the application where to transfer the information on Schedule D-1 or Schedule D. If the prior-year installment sale was not proforma’d from last year, select a code from the dropdown to indicate where the installment sale was reported in the year of original sale.
note
Treatment codes 1 through 3 are not available in the CAInstPY screen in the Schedule D folder. Also, treatment codes S, L, X, Y, and Z aren't available in the CAInstPY screen in all other folders.

Prior Year Gross Profit and Contract Price

Tax rate (S Corp)
Enter
2
 for installment sale assets subject to the 8.84 percent tax on certain capital gains. This applies only to installment sales of capital assets. If you enter
1
 or leave this blank, the application uses 1.5 percent as the default tax rate. Enter a tax rate code directly or select one from the dropdown.

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