Community property data entry
There are 3 methods available for entering community property.
- On theAssetscreen, enter the description and entire value of a community property asset.
- Use 1 of the following data-entry methods:
- In theAdjustment itemsstatement dialog, enter text similar toSurviving Spouse's Community Interestin the Description column. On the same line as the text, enter half the asset alternate value and/or death value amount as a subtraction. The application nets the amounts entered for each item (entire value + accrued income - community property interest) before considering amounts to transfer to Schedule M, Schedule O, the Asset Worksheets, or when transferring amounts to the states.
- EnterXin theCommunity propertyfield. The application calculates and displays the surviving spouse's one-half interest for all identified community property and prints the adjustment as the last item for that schedule. Even though the adjustment is listed as the last item in the schedule, the net amount of each asset is considered for Schedule M, Schedule O, the Asset Worksheets, or when transferring amounts to the states. There's aForcefield for you to override the calculation if you need it.
- Indicate the surviving spouse's one-half interest by entering only the decedent's share of the community property asset in theAlternate valueand/orValue at date of deathfields.
