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Sales of AssetsDrake Software User’s ManualSales of AssetsScreens for entering gains, losses, and sales of assets are listed in Table 5-1. Thesescreens can all be accessed from the Income tab of the Data Entry Menu.Table 5-1: Screens for Entering Gains and LossesScreenDD2Schedule D, Capital GainsScreen or Form NameLoss Carryovers and Other Entries (not an IRS form)2439 Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains4255 Form 4255, Recapture of Investment Credit4684 Form 4684, Casualties and Thefts4797 Form 4797, Sales of Business Property6252 Form 6252, Installment Sale Income6781 Form 6781, Gains and Losses From Section 1256 Contracts and Straddles8824 Form 8824, Like-Kind ExchangesHOME99CWorksheet for Sale of Residence (not an IRS form)Form 1099-C, Cancellation of DebtWhen forms require identical data (such as when amounts from the 4684 and 6252screens must be carried to Form 4797), Drake prints the data on the appropriate forms.Capital Gains, Losses, CarryoversScreen codesD, D2Use the following screens to enter data for Schedule D, Capital Gains and Losses:• Screen D (Capital Gains & Losses)• Screen D2 (Loss Carryovers and Other Entries)These screens are available under the Income tab of the Data Entry Menu.Screen D,CapitalGains andLossesUse screen D for basic information about short- and long-term capital gains andlosses. Following are some guidelines for entering data on this screen:• Description — By IRS regulations, only the first 15 letters of an item descriptionare transmitted during e-filing. The Description field in Drake supports 32 characters.By default, the first 15 characters are displayed in black text on the screen;any additional characters are displayed in red.• Date Acquired — If a single date does not apply, type VARIOUS for multiple datesor INHERIT for an inheritance. If VARIOUS, the program treats the item as a longtermgain.96 Tax Year 2008