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Business & farm
Requesting permission to change from accrual to cash basis is likely the easier choice if your previous years' reported income and expenses won't change on amended returns. You will report on cash-basis this year when requesting the change.
To do this, you'll need to file Form 3115, which is available in TurboTax Business using Forms Mode. The tax year of change would be the current year. Here are the complete IRS Instructions for Form 3115. Note especially Table B for the sections you'll need to complete.
While Form 3115 is tedious to complete, you will do this only once. If you need additional help, consider upgrading to TurboTax Live. This online service provides step-by-step guidance from a tax expert whenever you need assistance, either over the phone or by screensharing.
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