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Tax Method Correction Form 1065 LLC
My first year filing Form 1065 with TurboTax I selected the Accrual method for my accounting designation. This was a mistake. I met to select the Cash method. I am now filing my second year and noticed the error. Can I make the change this year in TurboTax without issue? AND since my method didn't actively change, meaning it was just an error with the selection, do I have to file a Form 3115 with the IRS?
March 6, 2020
7:12 AM