Screen PAInPY - Pennsylvania Prior Year Installment Sale (1040)

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Overview

Use this screen to complete Schedules D-1 and D. The information that appears in the PAInPY screen is automatically transferred from the federal InstPY screen. It's important to report any state-related law differences and details in the PAInPY screen.
note
Add or delete units for this screen in the corresponding federal screen instead.

General Information

Unit / Form
When both the
Form
and
Unit
fields are completed, UltraTax CS matches items coded
C
,
Cc
,
F
, or
4835
with the proper unit in the corresponding Pennsylvania screens. The description of the asset, along with the calculated gain or loss, transfers to the Other income lines of the applicable forms or schedules when the return prints. Code
A
,
E
,
K-1
,
K1-T
,
2106
, or
M
transfers to Form PA-40 Schedule D or Form PA-40 Schedule D-1.
State use
If
1
is entered in this field, the sale is considered ineligible for installment sale treatment in Pennsylvania. UltraTax CS ignores any information in this screen, as it assumes the sale was fully reported in a prior year.
Force gain or loss to Pennsylvania Schedule D
Enter
X
to force the gain or loss from a business or farm sale to Form PA-40 Schedule D.
State does not conform to section 179 QRP treatment
Enter
X
to indicate that the corresponding federal installment sale of section 179 QRP doesn't apply for state purposes. UltraTax CS will ignore the installment sale for state reporting. The screen is completed for consistency with the corresponding federal screen unit.

Installment Sale Income

Prior year gross profit percentage
Enter the gross profit percentage if it is different from the prior-year gross profit percentage. The percentage is used in the calculation of the PA Schedule D-1.

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