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Allocation

Allocate expenses directly to capital gains

You can allocate expenses directly or indirectly to capital gains. Do the following to allocate them directly.
  1. Select the
    Deductions
     folder.
  2. On the
    Deduct
     screen, open the statement window for the expense.
  3. 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.
  4. Enter the expense amount on the same line as the code.
  5. To allocate state-estimated tax payments, enter the same code (
    STG
    ,
    LTG
    , or
    1231
    ) in the
    Allocate to income type
     on the
    StPmt
     screen.

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