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Screen PAD - Pennsylvania Sale, Exchange or Disposition of Property (1120)
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Sale or Exchange of Property
Schedule D detail
The application transfers the description, date purchased, date sold, selling price, and cost or basis from the federal Schedule D to this statement window. Enter the
Class Code
or select one from the list to classify amounts as Gain (Loss), Business Income, or Dividend Income. Enter the Code
or select one from the list to classify amounts as In State or Out of State. The available class codes are listed in the following tables. To exclude an item from the state return, delete the amount or the entire line item from the statement. The application displays the modified column in black and won’t replace the new data with subsequent federal-to-state data transfers. For more information, (including details on setting a user preference to mark fields for which you overruled the transferred amount), see the Statements overview.Class Code | Description | Destination |
|---|---|---|
G | Gain (Loss) (default) | PA Schedule D, Pages 1 and 3 |
B | Business Income | PA Schedule M, Part A, column B |
D | Dividend Income | PA Schedule M, Part A, column D |
Code | Description | Destination |
|---|---|---|
I | In State (default) | PA Schedule D, Page 1, Sales Exchange and Disposition of Property within Pennsylvania. |
O | Out of State | PA Schedule D, Page 3, Sales Exchange and Disposition of Property outside Pennsylvania. |
Undistributed long-term capital gain from Form 2439
Pennsylvania taxes capital gain distributions from mutual funds as dividends unless the capital gain distribution is reinvested into the business as working capital. Undistributed long-term capital gains from Form 2439 are transferred to the statement window attached to this box. Enter the
Class Code
or select one from the list to classified amounts as Dividends or Business Income. Enter the Code
or select from the list to classify and amount as In State or Out of State. The available class codes are listed in the following tables. The application displays the modified column in black and won't replace the new data with subsequent federal-to-state data transfers. To exclude an item from the state return, delete the amount or the entire line item from the statement. For more information, (including details on setting a user preference to mark fields for which you overruled the transferred amount), see the Statements overview.Class Code | Description | Destination |
|---|---|---|
D | Dividend (default) | PA Schedule D, Page 1 or 3, line 7, Schedule M, Part A, column D |
B | Business Income | PA Schedule M, Part A, column B |
Type Code | Description | Destination |
|---|---|---|
I | In State (default) | PA Schedule D, Page 1, line 4 |
O | Out of State | PA Schedule D, Page 3, line 4 |
Capital gains distributions
Pennsylvania taxes capital gain distributions from mutual funds as dividends unless the capital gain distribution is reinvested into the business as working capital. Long term capital gain distributions from the federal D screen are transferred to the statement window attached to this box. Enter the
Class Code
or select one from the list to classified amounts as Dividends or Business Income. Enter the Code
or select from the list to classify and amount as In State or Out of State. The available class codes are listed in the following tables. The application displays the modified column in black and won’t replace the new data with subsequent federal-to-state data transfers. To exclude an item from the state return, delete the amount or the entire line item from the statement. For more information, (including details on setting a user preference to mark fields for which you overruled the transferred amount), see the Statements overview.Type Code | Description | Destination |
|---|---|---|
I | In State (default) | PA Schedule D, Page 1, line 4 |
O | Out of State | PA Schedule D, Page 3, line 4 |
Class Code | Description | Destination |
|---|---|---|
D | Dividend (default) | PA Schedule D, Page 1 or 3, line 7 Schedule M, Part A, column D |
B | Business Income | PA Schedule M, Part A, column B |
Federal short-term gain to Pennsylvania
The amount from federal Form Schedule D for like-kind exchanges on Form 8824 is transferred to the statement windows attached to these boxes. The
Code
box in the statement windows lets any item be classified as a sale, exchange or disposition of property within Pennsylvania or outside of Pennsylvania. Enter the Class Code
or select one from the list to classified amounts as Dividends or Business Income. Enter the Code
or select from the list to classify and amount as In State or Out of State. The available class codes are listed in the following tables. The application displays the modified column in black and won’t replace the new data with subsequent federal-to-state data transfers. To exclude an item from the state return, delete the amount or the entire line item from the statement. For more information, (including details on setting a user preference to mark fields for which you overruled the transferred amount), see the Statements overview.Class Code | Description | Destination |
|---|---|---|
D | Gain (Loss) (default) | PA Schedule M, Part A, column E |
B | Business Income | PA Schedule M, Part A, column B |
Type Code | Description | Destination |
|---|---|---|
I | In State (default) | PA Schedule D, Page 1, line 3 or 4 |
O | Out of State | PA Schedule D, Page 3, line 3 or 4 |
Federal non-taxable exchanges
Amounts in these boxes are used on Schedule D, line 9 for amounts under IRC Section 1031 and 1033. The amounts entered here don't adjust Schedule M.
Gain (loss) from transactions requiring adjustment (Part II and IV)
Use the statement to enter Pennsylvania information not entered in the federal screen. The
Code
in the statement lets any item be classified as a sale, exchange or disposition of property In State or Out of State. The available codes are listed in the following table. Type Code | Description | Destination |
|---|---|---|
I | In State (default) | PA Schedule D, Page 2 |
O | Out of State | PA Schedule D, Page 4 |