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Screen 970 - Application to Use LIFO Method (1065)
Statement of Election Under Section 472
Filing amended return to make the election
Enter
X
if you're amending the tax return to adopt the LIFO inventory method. "Filed pursuant to section 301.9100-2" prints on Form 970.Tax year ending LIFO inventory method will be used
Enter the month, day, and year of the tax year-end for which the LIFO inventory method will first be used. This field is mandatory to calculate Form 970.