Screen HISale - Hawaii Sale of Business Property (1065)

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Schedule D-1 and Form 6252 - General Information

Treatment
The code you select controls where the information appears on Schedule D-1, Hawaii Schedule D, or Hawaii Schedule K. The table that follows shows what each Force code means and describes where UltraTax CS places the information.
Note that detailed asset data entry automatically enters the appropriate code based on the nature of the asset. Codes
S
,
L
,
X
,
Y
, and
Z
are only applicable if information is entered in the Hawaii Form 6252, Current Year Installment Sale section.
If codes
S
,
L
,
X
,
Y
or
Z
are used and information has not been entered for the current year installment sale, no information will transfer to Schedule D-1, Hawaii Schedule D or Hawaii Schedule K.
Code
Description
Destination
1
Schedule D-1, Part I
Transfers to Schedule D-1, Part I, line 2.
2
Schedule D-1, Part II
Transfers to Schedule D-1, Part II, line 11.
3
Schedule D-1, Part III
Transfers to Schedule D-1, Part III.
S
Schedule D, short-term installment sale
Transfers to Schedule D, line 2 when information exists in current year installment sale boxes.
L
Schedule D, long-term installment sale
Transfers to Schedule D, line 9 when information exists in current year installment sale boxes.
V
Section 1202 - 100% exclusion
Transfers to Schedule K, line 11 when information exists in current year installment sale boxes.
X
Section 1202 - 50% exclusion
Transfers to Schedule K, line 11 when information exists in current year installment sale boxes.
Y
Section 1202 - 75% exclusion
Transfers to Schedule K, line 11 when information exists in current year installment sale boxes.
Z
Section 1202 - 60% exclusion
Transfers to Schedule K, line 11 when information exists in current year installment sale boxes.
State does not conform to section 179 QRP treatment
UltraTax CS automatically marks this box to indicate that the corresponding federal sale of section 179 QRP does not apply for state purposes, so the sale is not reported. The screen is completed for consistency with the corresponding federal screen unit.

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