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Deductions & credits
We can hope, but the form is not exactly a DIY project even though the 481(a) adjustment section on the form is relatively simple.
First, a copy must be included with the return and another copy must be sent separately to the IRS.
Also, a statement needs to be attached that includes a summary of how the adjustment was calculated.
Finally, there are a multitude of questions on the first three pages that are relatively obtuse and vague.
The preparation of this form is best left to tax professionals.
‎April 16, 2022
12:23 PM