Tax Determination On Built-In Gains Form - Department Of The Treasury, Commonwealth Of Puerto Rico
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1Schedule U
Rev. 05.10
__
20
TAX DETERMINATION ON BUILT-IN GAINS
Taxable year beginning on ________________, 20___ and ending on ____________, 20___
Employer Identification Number
Entity's Name
Type of Business:
Special Partnership
Corporation of Individuals
Part I
Built-In Gain Recognized (Assets sold during the year)
(A)
(B)
(C)
(D)
(E)
(F)
(G)
Date
Date
Sale price
Allowable
Cost or other basis &
Selling expenses
Gain or loss
Description of property
acquired
sold
improvements costs
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
1.
Total .....................................................................................................................................................
00
(1)
2.
Built-in gain not realized on assets sold during the year (Same as Part III) ..................................................
00
(2)
3.
Built-in gain recognized (Enter the smaller of lines 1 and 2) .......................................................................
00
(3)
Part II
Built-In Loss Recognized (Assets sold during the year)
(A)
(B)
(C)
(D)
(E)
(F)
(G)
Date
Date
Sale price
Allowable
Cost or other basis &
Selling expenses
Gain or loss
Description of property
acquired
sold
depreciation
improvements costs
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
1.
Total .....................................................................................................................................................
00
(1)
2.
Built-in loss not realized on assets sold during the year (Same as Part III) ..................................................
00
(2)
3.
Built-in loss recognized (Enter the smaller of lines 1 and 2) .......................................................................
00
(3)
Part III
Net Built-In Gain and Loss Not Realized
(A)
(B)
(C)
(D)
(E)
Description of property
Date
Date of
Market value at
Adjusted basis at
Built-in gain or loss
not realized
acquired
conversion
conversion time
conversion time
00
00
00
00
00
00
00
00
00
00
1.
Total ..............................................................................................................................................
(1)
00
2.
Net built-in gain recognized on previous years ...................................................................................
(2)
00
3.
Total net built-in gain not realized (Transfer to Part IV, line 6) ..................................................................
(3)
Part IV
Tax on Net Built-In Gain Recognized
00
1.
Built-in gain recognized (Same as Part I, line 3) ...................................................................................
(1)
00
2.
Built-in loss recognized (Same as Part II, line 3) ..................................................................................
(2)
00
3.
Excess of built-in gain recognized over built-in loss recognized (Subtract line 2 from line 1) .......................
(3)
00
4.
Carrying net built-in gain not recognized on previous years ....................................................................
(4)
00
5.
Total net built-in gain recognized (Add lines 3 and 4) .............................................................................
(5)
00
6.
Net built-in gain not realized (Same as Part III, line 3) ............................................................................
(6)
00
7.
Net built-in gain recognized before other adjustments (Enter the smaller of lines 5 and 6) ..........................
(7)
00
8.
Adjustment on income and deductions ..............................................................................................
(8)
00
9.
Net built-in gain recognized (Subtract line 8 from line 7) ........................................................................
(9)
00
10.
Net taxable income ........................................................................................................................
(10)
11.
Net built-in gain recognized before operating or carry forward capital losses (Enter the smaller of lines 9
00
and 10) .......................................................................................................................................
(11)
00
12.
Carry forward losses .......................................................................................................................
(12)
00
13.
Net built-in gain recognized subject to tax (Subtract line 12 from line 11) .................................................
(13)
00
14.
Tax determined (Multiply line 13 by 39%) ...........................................................................................
(14)
Retention Period: Ten (10) years
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