There is nowhere in the program to input the deduction nor is there a standard election form contained in the program. 

Rather, you would add a Miscellaneous Statement or Additional Information sheet in Forms Mode and then follow the manner for making the election set forth in the Treasury Regulations (link below).

Treas. Reg. §1.181-2(c) --> https://www.law.cornell.edu/cfr/text/26/1.181-2