Screen Ponzi - Revenue Procedure 2009-20 (1120)

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General Information

Occurrence description
This field is mandatory.

Computation of Deduction

Does the taxpayer intend to pursue any third-party recovery?
The information you enter in this field determines the percentage of qualified investment that is deductible. Enter
1
, or leave the field blank, if the taxpayer intends to pursue third-party recovery. The percentage of qualified investment is calculated at 75 percent. Enter 2 if the taxpayer does not intend to pursue third-party recovery, the percentage of qualified investment is calculated at 95 percent.
Income reported on prior years tax returns
Enter the amount of income reported on tax returns for years prior to the discovery year.

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