This article will assist you with making the following elections for Form 3115 in Intuit ProConnect:
- 1.263(a)-1(f) - De Minimis Safe Harbor Election
- 1.263(a)-3(h) - Safe Harbor Election for Small Taxpayers
- 1.263(a)-3(n) - Election to Capitalize Repair and Maintenance Cost
Follow these steps enter the applicable elections:
- Go to the Input Return tab.
- From the left of the screen, select Other and choose Elections.
- Click the blue Misc. Elections link at the top right corner of the screen.
- In modules other than Individual, skip this step and proceed with step 4.
- Locate the Miscellaneous Elections section.
- Check the box labeled De minimis safe harbor [1.263(a)-1(f)], if applicable.
- Check the box labeled Capitalize repair and maintenance costs [1.263(a)-3(n)], if applicable.
- Scroll down to the Election for Safe Harbor for Small Taxpayers section.
- Check the box labeled Safe harbor for small taxpayers [1.263(a)-3(h)], if applicable.
- Click in the Description of property field.
- Enter the election information.
- Click OK.
- The applicable elections should show in the Check Return view now.
The applicable elections should show in the Forms view now.