itonewbie
Level 15
05-21-2020
03:04 PM
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Your client has adopted an impermissible method of accounting. To change that, you'll need to file a F.3115 and a §481(a) adjustment will need to be made. With the correction made, you'll then add an asset for land as George suggested and adjust what you have for the building.
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Still an AllStar
Still an AllStar