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e-file 1040 returns

Include election statements in the e-file

Guidelines

The IRS reviewed all forms and form instructions to identify where taxpayers are required to attach elections. For these IRS defined elections, the IRS defined specific schemas formatted to report the election requirements.
But the IRS hasn't reviewed all regulations and publications to identify every possible election. Rather than performing this analysis, and then defining specific schemas to match each of these elections, the IRS created a general dependency schema.
The general dependency schema includes the following elements:
  • Form Line or Instructions Reference
     (
    optional
    ): This field should be completed when the election's made based on information on IRS forms or form instructions, and the IRS hasn't defined a specific format.
  • Regulation Reference
     (
    optional
    ): This field should be used to identify information for elections made based on information contained in regulations or publications.
  • Description
     (
    optional
    ): This field should be used to enter a brief explanation of the election.
  • Text Field
    : This field should be completed to enter election data.
note
The current IRS schema definitions don't support information entered in a columnar format. For elections requiring columnar format, the IRS will allow these to be included in the return as PDF attachments. Separate PDF files must be created for each election, and the regulation reference should be used in the name of the PDF file.

Include elections in the e-file

You can enter all elections in
Organizer
,
Federal Tax Elections
.
tip
For any elections not described in this section, you can use return footnotes.
IRS defined elections
For those elections it has specifically identified, the IRS has indicated that these must be included in the XML portion of the e-file using specifically defined election schemas. To ensure these elections are properly included in the XML file, use
Organizer
,
Federal Tax Elections
,
E-file Tax Elections
.
General dependency elections
  • Account defined elections:
     If applicable, elections can be set up on an account wide basis in Tax Defaults. All account defined elections will be displayed in each return, where you can select and edit those that apply for the specific return. These elections will be formatted to match the general dependency schema as explained in the guidelines.
  • Preparer defined elections:
     These elections are prepared within each return independently. These elections will be formatted to match the general dependency schema as explained in the guidelines.
  • TTA defined elections:
     We've defined as election templates a number of common elections. These elections include our composed text explanations, and provides you with fields for entering variable data applicable to the specific return. These elections will be formatted to match the general dependency schema as explained in the guidelines.
tip
If the general dependency is an election, the description should start with the word Election. For example: Election to Amortize a Bond Premium. For TTA defined elections, the word Election will be added automatically. For other elections, the TTA process will generate an alert to add the word Election.

This article applies to:

  • Product: GoSystem Tax RS
  • Return type: 1040 Individual,1041 Fiduciary,990 Exempt Organization
  • Subject: e-file,Elections

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