I sold income property in Hawaii in 2016. Where do I report the captial gains on the Fed 1040 and the Hawaii N-15

[ukulele6]

How do I access line 55 in the N-15?

[MaryK1 · Accepted solution]

You will enter your sale information under Sales of Business Assets.  This will create the Form 4797, which shows the capital gain which is reported on the Schedule D - and the current year rental income/loss which is reported on the Schedule E.  This information should automatically be transferred to the Hawaii nonresident (N15) income tax return.