Input for Sec 1244 stock sale loss

[cpatrina]

Thanks in advance for your help!

Client has loss that meets the Section 1244 stock requirements.  The challenge is the input forms (I know the first $100,000 of the loss - MFJ) goes on Form 4797 Line 10 and the remainder of the loss on Schedule D.

I cannot get ProSeries input to match that result.  I used the Capital Gain/Loss worksheet and code "Q" adjustment for the 1244 $100,000 loss portion.  How do I get the $100,000 to flow through on the Form 4797 line 10?

Best,

Trina

[IntuitDawnC · Accepted solution]

Try using code S instead of Q.   Code S is for the loss that is in excess of the ordinary loss limits.   

[Terry53029]

When you are in the capital gain/loss work sheet double click, and a window will pop up choose new copy, scroll down to enter 1244 loss