Making an election under regulation 1.263(a)-1(f), 1.263(a)-3(h), or 1.263(a)-3(n) in ProSeries
This article will assist you with making the following elections in Intuit ProSeries:
- Regulation 1.263(a)-1(f): De Minimis Safe Harbor Election.
- Regulation 1.263(a)-3(h): Safe Harbor Election for Small Taxpayers.
- Regulation 1.263(a)-3(n): Election to Capitalize Repair and Maintenance costs
Select the applicable return type below for instructions.
- Press F6 on your keyboard to bring up Open Forms.
- Type in "EL" and press Enter to open the Individual Elections Summary.
- Double-click in the field for:
- Line 20 for Regulation 1.263(a)-1(f): De Minimis Safe Harbor Election.
- Line 21 for Regulation 1.263(a)-3(h): Safe Harbor Election for Small Taxpayers.
- Line 22 for Regulation 1.263(a)-3(n): Election to Capitalize Repair and Maintenance costs.
- Complete the applicable information.
- Select the General Information tab from the left of the screen.
- In the left column, scroll down to Misc Tax Forms & Worksheets.
- Check the box for the appropriate election:
- Regulation 1.263(a)-1(f): De Minimis Safe Harbor Election.
- Regulation 1.263(a)-3(h): Safe Harbor Election for Small Taxpayers.
- Regulation 1.263(a)-3(n): Election to Capitalize Repair and Maintenance costs.
- Press F6 on your keyboard to bring up Open Forms.
- Type in "IRC" and press Enter to open the Corporate Elections Summary.
- Double-click in the field for:
- Line 28 for Regulation 1.263(a)-1(f): De Minimis Safe Harbor Election.
- Line 29 for Regulation 1.263(a)-3(h): Safe Harbor Election for Small Taxpayers.
- Line 30 for Regulation 1.263(a)-3(n): Election to Capitalize Repair and Maintenance costs.
- Complete the applicable information.
- Press F6 on your keyboard to bring up Open Forms.
- Type in "IRC" and press Enter to open the Corporate Elections Summary.
- Double-click in the field for:
- Line 16 for Regulation 1.263(a)-1(f): De Minimis Safe Harbor Election.
- Line 15 for Regulation 1.263(a)-3(h): Safe Harbor Election for Small Taxpayers.
- Line 17 for Regulation 1.263(a)-3(n): Election to Capitalize Repair and Maintenance costs.
- Complete the applicable information.
- Press F6 on your keyboard to bring up Open Forms.
- Type in "IRC" and press Enter to open the Corporate Elections Summary.
- Double-click in the field for:
- Line 16 for Regulation 1.263(a)-1(f): De Minimis Safe Harbor Election.
- Line 17 for Regulation 1.263(a)-3(h): Safe Harbor Election for Small Taxpayers.
- Line 18 for Regulation 1.263(a)-3(n): Election to Capitalize Repair and Maintenance costs.
- Complete the applicable information.
Intuit HelpIntuit