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IRC 195 START UP COST ELECTION STATEMENT - EFILING 1120

Taxes-by-Rocky
Level 7

Does anyone know for certain if the ProSeries tax package for an 1120 will e-file the IRC Section 195 Start-Up cost statement (or is it required to be attached as a pdf)?

A while back, there were notices from Intuit that not all election statements were automatically e-filed and had to be attached as a pdf instead.  Does anyone know the status for the IRC Section 195 election in the package.  Is there a link to identify which elections are e-fileable and which ones are not?

Thank you in advance.

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3 Comments 3
Just-Lisa-Now-
Level 15
Level 15
If the form is included in your list of forms, then it should be included along with the EFile.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Taxes-by-Rocky
Level 7

Thanks.....that would be logical but hasn't always been the case.  For example, 663(b) elections for trusts.  Any idea if ProSeries has a list somewhere of 'what's in and what's out' for election statements and efiling?  I'd even settle with a "*" on the "IRC Elections Summary."  [Not to be picky but the number's large.]  Appreciate it.

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TaxGuyBill
Level 15

Are you electing to capitalize ALL of the costs?

If not, I don't think you need an election statement if you are just doing the usual $5,000-$50,000 and amortizing the rest.

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