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Allocate expenses directly to capital gains

You can allocate expenses directly or indirectly to capital gains. Do the following to allocate them directly.

Select the Deductions
folder.

On the

Deduct

screen, open the statement window for the expense.

Enter 1 of the following codes in Income Type
:

STG

to allocate the expense directly to short-term capital gains.

LTG

to allocate the expense directly to long-term capital gains.

1231

to allocate the expense directly to Section 1231 gains.

Enter the expense amount on the same line as the code.

To allocate state-estimated tax payments, enter the same code (

STG

,

LTG

, or

1231

) in the Allocate to income type
on the

StPmt

screen.