Screen 4876-A - Election to be Treated as an IC-DISC (1120-IC-DISC)

General Information

This is a mandatory entry that is necessary for the application to properly calculate the due date for the Form 4876-A filing instructions.
Select the Shareholder Info button in this screen to open the Shareholder Information window and enter the shareholder information needed to complete Form 4876-A. If you are preparing Form 4876-A for a C Corporation, the shareholder information will proforma to the Shareholder spreadsheet in the 1120-IC-DISC return in the following year.
The applicable due date in the Form 4876-A filing instructions is based on the client type you selected in the File and then Client Properties dialog. If the client is an Interest Charge DISC, the due date is 90 days after the date entered in the
Election is to take effect…
field. If the client is a C Corporation, the due date is 90 days before the date entered in the
Election is to take effect…
field.
The extended consent statement prints when you enter information in the Extension for Shareholder Consent dialog in the View, Shareholder Information, and then 4876-A tab, and when you enter a reason for failing to file a consent on time. You must attach the consents to a copy of the original Form 4876-A.
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