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how to enter statement for section 351 transfer

rgn
Level 1
 
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3 Comments 3
dascpa
Level 11

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

Section 351 is not elective.

The more I know, the more I don't know.
dascpa
Level 11

For 351 you are correct.  Good pickup.