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Partnership election to Capitalize Taxes and Carrying Charges in ProConnect Tax

SOLVEDby IntuitUpdated June 28, 2023

To make the election to capitalize taxes and carrying charges:

  1. From the Input Return tab, go to Other Elections.
  2. Click on the blue Election in the upper right corner.
  3. Go to the Other tab on this screen.
  4. Scroll down to the Election to Capitalize Taxes & Carrying Charges section.
  5. Check the box labeled Capitalize taxes and carrying charges [266].
  6. Make any other applicable inputs in this section.

See IRC Regulation 1.266-1 Capitalize Taxes & Carrying Charges Election for more information.

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