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Screen CASale - California Sale of Business Property (1120)

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Overview

Use this screen to transfer all depreciation and amortization information directly from the asset module. Use this screen to enter asset information for Schedule D-1 and Form 3805E. (Note that you'll need to use the CACO  screen to enter nonrecaptured Section 1231 losses needed to calculate Schedule D-1.)

Schedule D-1 and Form 3805E - General Information

Treatment
The treatment code describes the nature of the asset and tells the application where to transfer the information on Schedule D-1 or D. Note that the asset module enters the code based on the nature of the asset. Enter a treatment code directly or select one from the dropdown.
note
Treatment codes 1 through 3 aren't available in the CASale screen in the Schedule D folder. Also, treatment codes S, l, X, Y, and Z aren't available in the Sale screen in all other folders.
State doesn’t conform to Section 179 QRP treatment
The application automatically marks this box to indicate that the corresponding federal sale of Section 179 QRP doesn’t apply for state purposes, so the sale is not reported. The screen is completed for consistency with the corresponding federal screen unit.

Form 3805E - Installment Sales

Tax rate (S Corp)
Select a code from the dropdown, or enter a code directly. Enter
2
 for installment sale assets subject to the 8.84 percent tax on certain capital gains. This applies only to installment sales of capital assets. If you enter
1
 or leave this blank, the application uses 1.5 percent as the default tax rate.

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