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Federal tax elections

Predefined federal tax elections

Predefined federal tax elections
IRC section
Election
1040
1041
1065
1120
990
706
709
3.02
Election under Section of Notice 2018-13 to use alternative method to compute post-1986 earnings and profits
X
X
X
43(e)
Election out of the Enhanced Oil Recovery (EOR) credit
X
X
X
X
X
X
50(d)(5)
Lessor's summary statement to treat lessee as purchaser
X
56(g)
Use simplified inventory methods for alternative minimum tax (AMT) adjusted current earnings
X
X
X
X
X
X
59(e)(2)(A)
Election to write off circulation expenditures over 3 years
X
59(e)(2)(C)
Election to amortize intangible drilling and development costs over 60 months
X
59(e)(2)(D)
Election to write off mine development expenditures over 10 years
X
59(e)(2)(E)
Election to write off mine exploration expenditures over 10 years
X
72(b)
Recompute exclusion when variable annuity payment is less than exclusion amount
X
X
X
1.72-6(d)
Election to compute separate exclusion ratios
X
X
X
77(a)
Farmer's election to include loan from commodity credit corporation in income
X
X
X
83(b)
Election to include restricted property in income in year of transfer
X
X
X
86(e)
Election regarding lump-sum social security payments
X
108(b)(5)
Election to apply tax attribute reduction first against depreciable basis on discharge of indebtedness
X
X
X
121(c)
Election to revoke one-time exclusion or gain from sale of home by taxpayer who's older than 55
X
126(c)(3)
Election to have exclusion for cost-sharing payments not apply
X
X
X
142(i)(2)
Election to forego depreciation in connection with private activity bond financing
X
X
X
162(h)
State legislator's election with regard to "tax home" for travel expense purposes
X
163(h)(2)(D)
Election not to treat debt as secured by a qualified residence
X
165(i)
Election to claim early disaster loss deduction
X
166
Election For new banks to establish a conclusive presumption of worthlessness for bad debts
X
168(b)(2)
Election to depreciate property using the 150% declining balance method
X
X
X
169(b)
Electing 60-month amortization of pollution control facilities
X
X
X
170(a)(2)
Accrual basis corporation's election to accrue a charitable contribution made within 2 1/2 months after tax year ends
X
170(b)(1)(c)
Election to have the contribution reduction rule apply to a charitable contribution of capital gain property by and individual
X
171(c)
Election to amortize bond premium
X
X
X
172(b)(1)(C)
Election to waive carryback period with respect to specified liability loss
X
X
172(b)(3)
Election to forego net operating loss carryback
X
X
173
Election to capitalize circulation expenditures
X
X
X
174(a)
Research and experimental costs current expense method
X
X
X
174(b)
Research and experimental costs-deferred expense method
X
X
X
175
Election to expense soil and water expenditures
X
X
X
195
Election to deduct start-up expenditures
X
195(b)
Election to amortize start-up expenditures
X
X
X
X
199A
Election to safe harbor rental real estate to be treated as a trade or business
X
199A
Annual aggregation disclosure
X
213(c)
Election to deduct medical expenses paid within 1 year of death on decedent's income tax return
X
X
216(b)(3)(B)
Election to allocate real estate taxes and/or interest expense to tenant-stockholder
X
243(b)(3)
Election of 100% dividend received deduction by corporation
X
248
Election to amortize organizational expenses
X
263(a)-1(f)
De minimis safe harbor election
X
263(a)-3(h)
Safe harbor election for small taxpayers
X
263(a)-3(n)
Election to capitalize repair and maintenance costs
X
263(d)
Election to deduct expenditures for rehabilitation of railroad rolling stock
X
X
X
263(i)
Election to include intangible drilling costs incurred outside U.S. in basis for calculating depletion
X
X
X
263A(d)(3)
Election out of the uniform capitalization rules by farmers
X
266
Election to capitalize carrying charges
X
X
X
307(b)(2)
Allocation of basis to non-taxable rights worth less than 15% of old stock
X
X
X
1.35 1-3(a)
Form of transferor's statement under regulation §1.35 1-3(a)
X
1.35 1-3(b)
Form of transferee corporation's statement under regulation §1.35 1-3(b)
X
1.163(j)-9
Election to not limit business interest-proposed regulation §1.163(j)-9
X
382
Election to use closing-of-the-books method to allocate taxable income in a tax year in which an ownership change occurs
X
401(a)(9)
Surviving spouse election to treat decedent's IRA as own IRA
X
402(e)(4)(B)
Election to include net unrealized appreciation of employer securities from lump-sum distribution in gross income
X
408(k)(6)
Employee salary deduction election to contribute to a SEP
X
441
Election to adopt or change to a 52-53 week tax year
X
X
X
X
X
X
448(d)(4)(C)
Election by common parent of affiliated personal service corporations with regard to the cash method
X
451
Election to defer advanced payments for goods and long-term contracts
X
X
X
453(d)
Election to not use the installment method
X
X
X
453(1)(2)(B)
Election to use installment method for dealer dispositions on sale of time shares and residential lots
X
X
X
454
Election by cash basis taxpayer to recognize current income of non-interest bearing discount obligations
X
X
X
455(c)
Election to defer prepaid subscription income without IRS consent
X
X
X
456
Election to defer prepaid dues income of membership organizations
X
X
X
458(c)
Election to exclude from gross income sales of returned magazines
X
X
X
458(c)
Election to exclude from gross income sales of returned paperbacks
X
X
X
458(c)
Election to exclude from gross income sales of returned records
X
X
X
461(c)
Election to ratably accrue real property taxes
X
X
X
461(h)(3)
Election to adopt the recurring item exception to determine when economic performance occurs
X
X
X
469(c)(7)(A)
Election to aggregate rental real estate activities
X
469
Election to elect out of recharacterization rules of self-charged interest
X
X
614(b)(2)
Election to treat operating interest in oil or gas deposits as separate properties
X
X
X
614(c)(1)
Election to aggregate 2 or more operating mining interests
X
X
X
X
X
X
614(c)(2)
Election to treat a single operating mining interest as more than 1 property
X
X
X
616(b)
Election to amortize mine development costs as units are sold
X
X
X
616(d)(2)(A)
Election to include foreign development expenditures in adjusted basis in computing the cost depletion deduction
X
X
X
617(a)
Election to deduct hard mineral exploration expenditures
X
X
617(b)(1)(A)
Election to include pre-production mine exploration expenditures in gross income
X
X
617(h)(2)(A)
Election to add foreign mine exploration expenditures to basis for cost depletion deduction
X
X
642(c)(1)
Election to deduct charitable contribution in the tax year preceding tax year of contribution
X
642(g)
Election to claim administration expenses of estate as income tax deduction
X
643(e)
Election to recognize gain or loss on distribution in kind
X
663(b)
Election to treat estate or trust distributions as made in the preceding tax year under the 65-day rule
X
709(b)
Election by partnership to amortize organizational expenditures
X
732(d)
Election to adjust basis of distributed property
X
736
Election to apply installment method to partner's liquidation payments
X
743
Statement regarding Section 743 adjustment (pursuant to Reg. 1-743-1(k)(1))
X
754(d)
Election to adjust basis in partnership property
X
761(a)
Election to be excluded from Subchapter K
X
831(b)
Election permitting certain small property and casualty insurance companies to be taxed solely on investment income
X
835(a)
Election by reciprocal to limit deduction for amount paid to attorney-in-fact
X
846(e)
Election by insurance company to use its own historical loss payment pattern
X
852(b)(2)(F)
Regulated investment company (RIC) election with respect to short-term government obligations issued at discount
X
865(f)
Election to treat foreign affiliates and subsidiaries as 1 corporation
X
871(d)
Election by nonresident alien or foreign corporation to treat real property as income connected with a U.S. business
X
X
911(e)(2)
Election to revoke exclusion of foreign earned income and foreign housing cost
X
953(c)(3)(C)
Foreign captive insurance company election
X
953(d)
Foreign insurance company election
X
962(a)
Election by U.S. shareholder of a controlled foreign corporation to be taxed as corporate rates
X
965(h)(1)
Election to pay net tax liability under Section 965 in installments under Section 965(h)(1)
X
X
X
965(i)(1)
S Corporation shareholder deferral election under Section 965(i)(1)
X
X
965(m)(1)(B)
Statement for real estate investment trusts electing deferred inclusions under Section 951(a)(1) by reason of Section 965 under Section 965(m)(1)(B)
X
965(n)
Election not to apply net operating loss deduction under Section 965(n)
X
X
X
1012
Election to determine basis in mutual fund shares sold using average basis
X
X
X
1016(c)
Election to increase basis for special use valuation property
X
1033(g)(3)
Election to treat outdoor advertising displays as real property
X
X
X
1042
Nonrecognition of gain on sale of stock to an ESOP
X
X
1059(c)(4)
Use of market value in determination of extraordinary dividend
X
X
X
1071
Reduction of basis in connection with FCC certified sale
X
X
1237(b)(3)
Substantial improvement costs attributable to subdivided tract of real property
X
X
1274A(c)
Election to use cash method for including original issue discount interest
X
X
X
1276(b)(2)
Election to accrue market discount on basis constant interest rate
X
X
X
1277(b)(1)
Election to deduct disallowed interest expense in a later year
X
X
X
1278(b)
Election to include accrued market discount in income currently
X
X
X
1282(b)(2)
Election to include acquisition discount in income for all short-term obligations
X
X
X
X
1361(d)(2)
Election by beneficiary of QSST
X
1362(a)
Corporate statement of revocation of S election
X
1362(d)(1)
Revocation of S Corporation election
X
1.1367-1(g)
Election to adjust basis of shareholders stock in an S Corporation pursuant to the elective ordering rule
X
1368
Election to treat distributions as being from earnings and profits
X
1371(e)(2)
Election regarding distributions made during the post-termination transition period
X
1377(a)(2)
Election to terminate S Corporation year
X
1398(d)(2)
Election by taxpayer(s) in bankruptcy action to close tax year
X
1411-10(g)
Election with respect to CFCs and QEFs
X
X
1446
Election to withhold from foreign partners of publicly traded partnerships based upon effectively connected income
X
1502
Election to reattribute a subsidiary's losses to the common parent
X
1503
Election to use dual consolidation loss
X
1504(d)
Election to treat Canadian or Mexican subsidiary as a domestic corporation
X
1552(a)
Election to allocate tax liabilities among a consolidated group
X
1561(a)
Election for consent to controlled group allocations
X
1563(a)(a)
Election to be a component member of 1 brother-sister controlled group
X
2053(d)
Election to deduct state and foreign death taxes on charitable transfers
X
4911(f)(3)
Election permitting public charity to use organization's year as affiliated group's to report lobbying expenses
X
4942(h)(2)
Election permitting private foundation to avoid excise tax for failure to distribute income
X
6013(f)
Election by spouse of individual in missing status to file a joint return
X
6013(g)
Election to treat nonresident alien spouse as a U.S. resident
X
6013(h)
Election to treat nonresident alien spouse who becomes a U.S. resident as a U.S. resident for the entire year
X
6081
Automatic return to file certain elections
X
X
X
6166
Election to defer estate tax
X
6222(b)(2)
Election for filing consistency with regard to erroneous K-1
X
X
6231(a)(1)
Election of small partnership to have the consolidated audit rules applied
X
7520(a)
Election permitting certain interest transferred to charity to be valued using an alternative 120% federal mid-term rate
X
X
X
7701(b)(4)
Election to treat qualified nonresident as a U.S. resident
X
Rev. Proc. 2016-20 statement
965 transition tax statement
X

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