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June 1, 1971. For instructions on

●

Gains from the disposal of IRC §

Line Instructions

how to determine the basis of assets

179 deductions reported on the

acquired on or before June 1, 1971,

federal Schedule K-1 should be

obtain REV-1742, Gain or Loss on

Line 1

addressed on PA-20S/PA-65

Property Acquired Prior to June 1,

Schedule D-I and/or PA-20S/PA-65

All PA-Source Gain (Loss)

1971, PA Schedule D-71.

Schedule D-III, Lines 6.

Included in Ordinary Business

Report the kinds of transactions

●

Net IRC § 1231 gain (loss) from

Income (Loss)

in the following table on PA-20S/PA-

federal Form 4797 is reported on PA-

Enter the amount reported on PA-

65 Schedule D. However, nonresident

20S/PA-65 Schedule M and/or PA-

20S/PA-65 Schedule M, Part A, Line

owners may or may not have to

20S/PA-65 Schedule D. If IRC § 1231

1 and Line 11, Column (e)

report the gains (losses).

gain (loss) is classified as PA-

(Pennsylvania-source gain (loss)

20S/PA-65 Schedule D gain, it is

only).

Note.

included in PA-20S/PA-65 Schedule

Gain (loss) from

D, Part I and/or PA-20S/PA-65

ordinary business

Note.

On the PA-20S/PA-65

Schedule D, Part III and reported on

transactions where the

Schedule D, the sum of Part

Line 5. PA-20S/PA-65 Schedule D,

proceeds are reinvested in the same

I, Line 1 and Part III, Line 1

Part I and PA-20S/PA-65 Schedule D,

line of business is classified as

will equal the amount reported on

Part-III also includes any other sales

incurred in the ordinary course and

PA-20S/PA-65 Schedule M, Part A,

not included above. If IRC § 1231

operations of the business,

Line 1 and Line 11, Column (e).

gain (loss) is classified to net profits

profession or other qualified activity.

from a business, it is included in PA-

The determination of whether gain is

20S/PA-65 Schedule M, Part A.

classified as incurred in the ordinary

Line 2

course of operations of the business,

All PA-Source Gain (Loss)

profession or other qualified activity

Completing

Included in Ordinary Net

is a factual determination that

Rental/Royalty Income (Loss)

requires a tracing of the sales’

PA Schedule D-I

from Federal Form 8825

proceeds and the reinvestment of the

Enter the amounts reported on PA-

proceeds in the same line of business

20S/PA-65 Schedule M, Part A, Lines

Allocated Gain (Loss) from

as defined under the North American

2, 3, and 6, Column (e)

Industry Classification System

the Sale, Exchange or

(Pennsylvania-source gain (loss)

(NAICS) code.

Disposition of Property

only).

Refer to the Pennsylvania

within Pennsylvania

Personal Income Tax (PA PIT) Guide,

In Part I, enter the allocated gain

Note.

On the PA-20S/PA-65

Chapter 12 for the specific rules used

(loss) from the sale, exchange or

Schedule D, the sum of Part

to define a line of business under the

disposition of property within

North American Industry

I, Line 2 and Part III, Line 2

Pennsylvania.

Classification System code.

will equal the amount reported on

Enter whole dollars only. If this is

The determination of whether

PA-20S/PA-65 Schedule M, Part A,

an amended schedule, fill in the oval.

gains are classified as incurred in the

Lines 2, 3 and 6, Column (e).

If Part I is blank, fill in the oval.

ordinary course of operations of the

business, profession or qualified

Line 3

Business Name

activity are not determined based on

Enter the complete name of the

the character of the federal income.

All PA-Source Net Short-Term

entity or business as shown on the

As an example, ordinary income

Capital Gain (Loss) from

PA-20S/PA-65 Information Return.

recapture is not automatically

Federal Schedule D

classified as incurred in the ordinary

Enter the amount reported on PA-

FEIN

course of operations of the business,

20S/PA-65 Schedule M, Part A, Line

Enter the nine-digit federal employer

profession or qualified activity.

7, Column (a) (Pennsylvania-source

identification number (FEIN) of the

Likewise, as to the long-term and

gain (loss) only).

entity or business as shown on the

short-term federal classification as

PA-20S/PA-65 Information Return.

Schedule D gain:

Note.

On the PA-20S/PA-65

●

Aggregate federal gain (loss) from

Schedule D, the sum of Part

operations other than real estate is

Fill In the

I, Line 3 and Part III, Line 3

first aggregated and then classified

will equal the amount reported on

Applicable Ovals

for Pennsylvania personal income tax

the PA-20S/PA-65 Schedule M, Part

purposes as either Schedule D gain

A, Line 7, Column (a).

(loss) or net profit (loss).

Amended Schedule

●

All aggregate federal gain (loss)

If this is an amended schedule, fill in

Line 4

that is not classified as net profits

the oval.

and reported on PA-20S/PA-65

All PA-Source Net Long-Term

Schedule M, Part A are adjusted for

Capital Gain (Loss) from

If Part I is Blank

Pennsylvania/federal differences on

Federal Schedule D

If there is no difference in the gain

the PA-20S/PA-65 Schedule D-I and

Enter the amount reported on PA-

(loss) on the federal return and the

PA-20S/PA-65 Schedule D-III.

20S/PA-65 Schedule M, Part A, Line

gain (loss) on the PA-20S/PA-65

8, Column (a) (Pennsylvania-source

Information Return then PA Schedule

gain (loss) only).

D-I should be blank. Fill in the oval.

- 2 -

Instructions for PA-20S/PA 65 Schedule D

Instructions For Pa-20s/pa 65 Schedule D - Sale, Exchange Or Disposition Of Property - 2012 Page 2

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