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Level 3
August 13, 2020
Question

How to make the 454 election in PS Professional

  • August 13, 2020
  • 2 replies
  • 20 views

Hi All, 

I cannot find where in the ProSeries software to make a Section 454 election to report accrued HH US Savings Bond interest on a decedent's tax returns.  Please advise--thanks!

Kristin

This topic has been closed for replies.

2 replies

Level 2
August 14, 2020

Hi Kristin,

 

I saw this on a different post about the 454 election, hope it helps.

"The election can be made by attaching a statement to the
taxpayer's income tax return for the taxable year to which the election is first to
apply. The election should be made no later than the due date, including
extensions, of the taxpayer's return for such year."

kdaglobalAuthor
Level 3
August 15, 2020

Thanks so much Jean--truly appreciated!