Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- 754 election
754 election
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
mb3
Level 1
05-12-2020
01:01 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have an individual client who has interest in a partnership. The client had a valuation done to get a set up in basis at the time of her husband's death. The partnership did not make a 754 election. Is there a way of making a late 754 election? Or what should I do as I only prepare the individual return and not the partnership return? Thank you
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
1 Comment 1
sjrcpa
Level 15
05-12-2020
04:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Its a partnership election. Nothing you or your client can do.
Do keep track of her basis starting with the date of death valuation.
The more I know, the more I don't know.
