Enter Section 1.163(k)-9 election
Do the following to enter Section 1.163(k)-9 elections.
- Go to the Elect screen then theElectionsfolder.
- Enter data in theSection 1.163(j)-9 election statementwindow to make the election in the current year.noteIf 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.
- EnterXif 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.noteUltraTax CS proformasXto this field when a1is entered in the Meets criteria for excepted trade or business under Section 163(j) field in the prior year.
