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Does anyone know what SCREEN 17 means & how to find it? How to generate the Sec 1202 Excl on the Sch D? Solution. To generate a Sec 1202 Exclusion Navigate to Screen 17

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Level 1

The question was already asked with the answer below.


How do I generate the Section 1202 Exclusion on the Schedule D?


Solution:

To generate the Section 1202 Exclusion:

  1. Navigate to Screen 17, Dispositions.
  2. Enter Description of the Property.
  3. Enter Date Acquired .
    • Note: For the purpose of Section 1202 Exclusion this can not be a Various date or a date before August 10, 1993
  4. Enter Date Sold.
  5. Enter Cost or Basis.
  6. Enter Sales Price.
  7. Scroll down to the Schedule D section.
  8. Find the QSB Stock heading.
  9. Enter 1 = qualified small business stock, 2 = business located in empowerment zone.


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Level 8

1040, sched D at top has 2 quickzoom buttons.

I think the second is what you need.  then, Part 3.

View solution in original post

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Level 8

1040, sched D at top has 2 quickzoom buttons.

I think the second is what you need.  then, Part 3.

View solution in original post

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Level 2
I'm working on the same thing for a client.  I filled out the capital gain(loss) worksheet for a sale of section 1202 stock.  I'm still waiting for the purchase date.  So when I add in the dates, will Proseries automatically exclude the entire amount, i.e. gross proceeds from form 1099-B?  I hope so.  The client is bringing over the rest of the data tomorrow.
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Level 15
Level 15

Screen 17 refers to Lacerte, not ProSeries.  

I really wish they would include which software the instructions refer to on those Knowledge Base articles!  I always find Lacerte articles and struggle to find ProSeries instructions!


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Level 1
So how do I record the gain and exclusion on pro series?? Thanks
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