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Short term sale from Sch D is transferring to PA Sch D TP: Sale/Exchange of Property as Long-term

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Short term sale from Sch D is transferring to PA Sch D TP: Sale/Exchange of Property as Long-term

rbusiness

On 1040 Schedule D, Part I line 1a column d, sales price of short sale and column 3 cost basis; this is where the short term sales go.  And if I go to the state (PA), on form Sch D TP, column A in the description for the stock sale, it shows as a Long-term sale instead of a short-term sale.  This needs to be fixed. It doesn't seem to affect the numbers negatively, but it doesn't reflect what it correctly is.

 

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1 Comment
Accountant-Man
Level 13

PA doesn't care about long or short, only Taxpayer or Spouse or Joint.

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