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Enter Section 1.163(k)-9 election

Do the following to enter Section 1.163(k)-9 elections.
  1. Go to the Elect screen then the
    Elections
     folder.
  2. Enter data in the
    Section 1.163(j)-9 election statement
      window to make the election in the current year.
    note
    If the taxpayer's only interest expense is from an excepted trade or business, the taxpayer isn't required to file Form 8990. For more information on what types of trades or business are excepted, see the Form 8900 instructions.
  3. Enter
    X
     if an election under section 1.163(j)-9 was made in the prior year or if an election is being made in the current year.
    note
    UltraTax CS proformas
    X
     to this field when a
    1
     is entered in the Meets criteria for excepted trade or business under Section 163(j) field in the prior year.

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