Simplified Method of Depreciation Election Statement for 1031 Like-Kind Exchange

[David94]

Hi,

I am writing to seek guidance on how to prepare the election statement for a simplified method of depreciation for my first time 1031 like-kind exchange filing.

I have noticed that on ProConnect, the election statement is printed with the return and can be attached to the e-file.

However, it seems that ProSeries does not to print the election statement.

Please advise me on how to prepare the election statement.

Thank you for your help in advance.

[Just-Lisa-Now-]

If you use the Where Do I Enter box and type  EL you'll find a list of premade elections that ProSeries has to choose from.

[David94]

Thank you for your response.

But it seems that there is no election form regarding Form 8824 which I want to find.

And I am using ProSeries Basic.

Thank you,

[TaxGuyBill · Accepted solution]

Are you referring to the election out of §1.168(i)-6?

On the Asset Entry Worksheet, abut 1/3rd of the way down is a checkbox for that.  The election statement shows on the very bottom of the 4562.

[David94]

Thank you for your advise.

I found out it.