Page 110 - Large Business IRS Training Guides

Exemptions and Elections-Exam Tips

Questions on Forms 1120, 1120S and 1065

identify whether or not the taxpayer meets the

small business exemption or only has interest

from electing real property trades or businesses,

electing farm businesses or certain utility

businesses.

• Form 1120 Schedule K, Line 24

• Form 1120S Schedule B, Line 10

• Form 1065 Schedule B, Line 24

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