Disposal > State Information dialog

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Use this window to enter state disposal information for clients' assets that have been sold or scrapped. This window is relevant for the following states: Idaho, Iowa, Kansas, Massachusetts, New Hampshire, Oklahoma, Pennsylvania, Vermont, and Wisconsin.
note
Information in this window transfers to UltraTax CS.
After selecting the asset in the
Asset Detail
window, select the
Disposal
tab. The
State Information
button is available when you select
Sold / Scrapped
from the dropdown list in
Method
.

Fields & buttons

1040 clients
Does not qualify for installment treatment (MA, NH, PA & WI)
Mark this checkbox if the property doesn't qualify for installment sale treatment for Massachusetts, New Hampshire, Pennsylvania, or Wisconsin. This information is used for UltraTax/1040-MA, UltraTax/1040-NH, UltraTax/1040-PA, and UltraTax/1040-WI returns.
Qualifies for Proprietorship Business Profits Tax (NH)
Mark this checkbox if the property qualifies for the New Hampshire Proprietorship Business Profits Tax. This information is used for UltraTax/1040-NH returns.
Qualifies for capital gains deduction (IA)
Mark this checkbox if the property qualifies for the Iowa capital gains deduction. This information is used for UltraTax/1040-IA returns.
Qualifies for capital gains deduction (ID)
Mark this checkbox if the property qualifies for the Idaho capital gains deduction. This information is used for UltraTax/1040-ID returns.
Qualifies for capital gains deduction (OK)
Mark this checkbox if the property qualifies for the Oklahoma capital gains deduction. This information is used for UltraTax/1040-OK returns.
Qualifies for 40% exclusion (VT)
Mark this checkbox if the property qualifies for the 40-percent capital gains exclusion. This information is used for UltraTax/1040-VT returns.
1120 clients
Does not qualify for installment treatment (PA & WI)
Mark this checkbox if the property doesn't qualify for installment sale treatment for Pennsylvania or Wisconsin. This information is used for UltraTax/1120-PA and UltraTax/1120-WI returns.
1065 clients
Does not qualify for installment treatment (NH, PA, & WI)
Mark this checkbox if the property doesn't qualify for installment sale treatment for New Hampshire, Pennsylvania, or Wisconsin. This information is used for UltraTax/1065-NH, UltraTax/1065-PA, UltraTax/1065-WI returns.
Qualifies for sale of certain livestock adjustment (KS)
Mark this checkbox if the property qualifies for an adjustment to the net gain on the sale of certain livestock in Kansas. This information is used for UltraTax/1065-KS returns on the KS Partner's Share of Income, Modifications and Credits Worksheet.

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