Page 111 - Large Business IRS Training Guides

Exemptions and Elections-Exam Tips (cont’d)

You can determine if your taxpayer made an

election under IRC § 163(j) for any real property

trade or business or any farming business by

looking at:

• Form 1120 Schedule K, Line 23

• Form 1120S Schedule B, Line 9

• Form 1065 Schedule B, Line 23

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