How attach a Section 754 election statement to 1065 for efile?

Forum|Forum|4 years ago
February 25, 2022
4 replies
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LLC member passed away with their interest transferred to beneficiaries. Assets of the LLC included land and cash, so completed a Section 754 election statement to identify the step up in basis (FMV greater than original basis) in for the deceased member's heirs. However, not clear how to add that attachment to form 1065 before e-filing. TT did have a process for attaching form 8453-PE, but haven't found a way to attach the Section 754 election statement even though the need for that statement even though answered 'Yes' on form 1065 Schedule B questions 10a and 10b (which requires a statement).

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Best answer by Anonymous_

There is a distinct possibility, in fact it is probable, that you will have to print and mail your return.

You can create a file where the 8453-PE is combined with another statement, which will allow you to e-file, but it is unclear whether the IRS will receive the statement in an acceptable format.

Anonymous_Answer

Level 15

There is a distinct possibility, in fact it is probable, that you will have to print and mail your return.

You can create a file where the 8453-PE is combined with another statement, which will allow you to e-file, but it is unclear whether the IRS will receive the statement in an acceptable format.

lw15Author

Level 4

Thanks, never thought about trying to combine in the same file with form 8453-PE. Will try that and see if get any errors.

Anonymous_

Level 15

You should not get any errors because the program will simply see a file that is attached.

My concern is whether the IRS will receive the statement in a form that is machine readable (or whether anyone will pull the return if it is not - or whether it ever actually reaches the IRS).