Hi,
I am writing to seek guidance on how to prepare the election statement for a simplified method of depreciation for my first time 1031 like-kind exchange filing.
I have noticed that on ProConnect, the election statement is printed with the return and can be attached to the e-file.
However, it seems that ProSeries does not to print the election statement.
Please advise me on how to prepare the election statement.
Thank you for your help in advance.
Best Answer Click here
Are you referring to the election out of §1.168(i)-6?
On the Asset Entry Worksheet, abut 1/3rd of the way down is a checkbox for that. The election statement shows on the very bottom of the 4562.
If you use the Where Do I Enter box and type EL you'll find a list of premade elections that ProSeries has to choose from.
Thank you for your response.
But it seems that there is no election form regarding Form 8824 which I want to find.
And I am using ProSeries Basic.
Thank you,
Are you referring to the election out of §1.168(i)-6?
On the Asset Entry Worksheet, abut 1/3rd of the way down is a checkbox for that. The election statement shows on the very bottom of the 4562.
Thank you for your advise.
I found out it.
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