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Form 6252 Line 19 (Gross Profit Percentage) is not enterable

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Level 3

On form 6252 Line 19, ProSeries Help says:

"From prior year if this sale is from a prior year and you utilized the transfer function from prior years; or calculated as a result of the current year sale; otherwise enterable."

I have neither transferred from prior year, nor is it current year of sale, and Line 19 is still not enterable. If I delete Part I entries, it becomes enterable but per new instructions, Part I needs to be filled out for all years. Any solution for this?

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Level 3

You are correct. I'm missing an entry on line 12, which is why my math didn't hold out. However, according to the wording on Line 19 it seems like there might be an occasion where the percentage may be something other than line 16 divided by line 19, although I don't know what that situation might be. Also Tax Help indicates that it should be enterable if not transferred or the year of sale. But for now, my problem is fixed. Thanks!

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Level 15

I filled in part I and line 19 is functional for me.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 3

Can you manually enter a percentage there without overriding?

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Level 15

No, it flows from above and an override is the only way to change it.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 3

That's the whole problem. I need to be able to manually enter it without overriding, if this is not the year of sale, so that line 24 calculates correctly. In prior years, Part I didn't need to be filled out unless it was the year of sale. Now IRS wants you to fill it out for all years, but line 19 needs the same percentage you used in the year of sale. So if this is not the year of sale, line 19 will not have the correct percentage if automatically calculated. Line 19 should be automatically calculated in the year of sale only.

"19  Gross profit percentage (expressed as a decimal amount). Divide line 16 by line 18. (For years after the year of sale, see instructions)"

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Level 15

But you use the same totals you used in the year of sale which means the percentage should work out the same.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
0 Cheers
Highlighted
Level 3

You are correct. I'm missing an entry on line 12, which is why my math didn't hold out. However, according to the wording on Line 19 it seems like there might be an occasion where the percentage may be something other than line 16 divided by line 19, although I don't know what that situation might be. Also Tax Help indicates that it should be enterable if not transferred or the year of sale. But for now, my problem is fixed. Thanks!

View solution in original post

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Level 15

👍

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
0 Cheers