Designate a sale as long-term or short-term
You can use force fields to control how a sale is reported. Sales of capital assets entered in the
B&D
screen's Schedule for detail
statement window creates a force column for you to use. Enter 1
for short-term treatment, 2
for long-term treatment, or 3
for 28 percent rate treatment. You can use F4 to view the options available.The
Sale
and InstPY
screens include a treatment field. The options available on these screens include:- 1 - Form 4797, Part I, Long-term
- 2 - Form 4797, Part II
- 3 - Form 4797, Part III, Long-term
- S - Schedule D, Short-term installment sale
- L - Schedule D, Long-term installment sale
- M - Schedule D, 28% rate installment sale
- X - Schedule D, 1202, 50% excludable
- Z - Schedule D, 1202, 60% excludable
