Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Tax Talk
- :
- Automatic change in accounting method from cash to accrual
Automatic change in accounting method from cash to accrual
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Paul Gee
Level 1
09-08-2023
02:23 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Taxpayer is a sub s-Corp cash basis taxpayer in the equipment rental business. This year the taxpayer has gross revenue in excess of $25,000,000 and has elected to begin selling used equipment to customers and began keeping an inventory of equipment available for sale. Does the taxpayer qualify for an automatic change in accounting methods from cash to accrual?
3 Comments 3
sjrcpa
Level 15
09-08-2023
04:31 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I guess so. I didn't think of that.
Ex-AllStar
