TaxGuyBill
Level 15
12-06-2019
09:00 PM
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"ELA" has something to do with the new limit for business losses. From the 1040 Instructions:
"Section 461(l) excess business loss adjustments. Enter "ELA" and the taxable amount on the dotted line next to line 21. See Form 461 and its instructions for more information."
https://www.irs.gov/instructions/i1040gi#idm140302174061168
https://www.law.cornell.edu/uscode/text/26/461#l
https://www.irs.gov/pub/irs-dft/f461--dft.pdf
https://www.irs.gov/pub/irs-dft/i461--dft.pdf
"Section 461(l) excess business loss adjustments. Enter "ELA" and the taxable amount on the dotted line next to line 21. See Form 461 and its instructions for more information."
https://www.irs.gov/instructions/i1040gi#idm140302174061168
https://www.law.cornell.edu/uscode/text/26/461#l
https://www.irs.gov/pub/irs-dft/f461--dft.pdf
https://www.irs.gov/pub/irs-dft/i461--dft.pdf