This article will assist you with accessing the Elections Summary to report IRC elections in ProSeries Professional. Select the applicable tax type below for instructions.
The IRC Elections Summary isn't available in ProSeries Basic.
Individual returns
- Open the client return.
- From the Forms menu, choose Select Form to open the Open Forms menu.
- You may also press F6 on your keyboard to open this window.
- Type in EL and click OK.
- This will open the Elections Summary.
- Double-click in the field to the right of an election to select it.
The Individual Election Summary form isn't activated for printing by default. To print the summary form with the tax return, the print condition will need to be changed in Print Options from Never to If any data. For instructions on accessing Control Which Forms Print refer to this article.
Supported IRC elections in ProSeries
| Tax module | Supported IRC elections |
| Individual (1040) | IRC Section 59(e) IRC Section 83(b) IRC Section 165(i) IRC Section 168(b)(2)(C) IRC Section 168(b)(3)(D) IRC Section 168(g)(7) IRC Section 172(b)(3) IRC Section 179(e) IRC Section 195(b)(1) IRC Section 307(b)(2) IRC Section 451(f) IRC Section 451(g) IRC Section 469(c)(7)(A) IRC Section 1033(a)(2)(A) |
| Corporate (1120) | IRC 168(k) IRC 168(b)(2) IRC 168(b)(3) IRC 168(g)(7) IRC 165(i) IRC 169(b) IRC 170(a)(2) IRC 171(c) IRC 172(b)(3) IRC 173(a) IRC 174(b) IRC Section 179(e) IRC 195(b) IRC 248(a) IRC 263(c) IRC 280C(c)(3) IRC 307(b)(2) IRC 451(d) IRC 451(e) IRC 461(h)(3) IRC 469(c)(7)(A) IRC 1033(a)(2)(A) |
| S-Corporate (1120-S) | IRC 1362(a)(2) IRC 1362(a) IRC 248(a) IRC 195(b) IRC 1274A(c) IRC 1033(a)(2)(A) IRC 165(i) IRC 83(b) IRC 266 IRC 461(c) IRC 168(b)(2) IRC 168(b)(3) IRC 168(g)(7) IRC 168(k) IRC 179(e) IRC 1367 IRC 1368(e)(3) IRC 1371(e)(2) IRC 469 IRC 1377(a)(2) IRC 302(c)(2)(A) IRC 1362(d)(1) IRC 1362(d)(2) |
| Partnership (1065) | IRC 195(b) IRC 709(b) IRC 266 IRC 171(c) IRC 173(a) IRC 174(b) IRC 263(c) IRC 461(c) IRC 168(b)(2) IRC 168(b)(3) IRC 168(g)(7) IRC 168(k) IRC 179(e) IRC 1033(a) IRC 754(b) IRC 451(d) IRC 451(e) |
| Fiduciary (1041) | IRC 451(e) IRC 168(b)(2) IRC 168(b)(3) IRC 168(g)(7) IRC 168(k) IRC 172(b)(3) IRC 195(b) IRC 451(d) IRC 451(e) IRC 642(c)(1) IRC 642(g) IRC 663(b) IRC 1033(a)(2)(A) |
