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Level 1
May 13, 2020
Question

how to enter statement for section 351 transfer

  • May 13, 2020
  • 3 replies
  • 45 views
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3 replies

dascpa
Level 11
May 13, 2020

If the election is not listed in the IRC Elections (under forms) you can attach your ow election to the tax return.  Either (a) type up the election and attach it to the return as a .pdf file or (b) under Forms go to Additional Information and write up your election there.  No clue if there is a preferred way but both have worked for me.

sjrcpa
Level 15
May 13, 2020

Section 351 is not elective.

The more I know the more I don’t know.
dascpa
Level 11
May 13, 2020

For 351 you are correct.  Good pickup.