How to file form 3115 with Turbo Tax?

[johnmhtr]

Hello,

I will need to file form 3115, can I do this with Turbo Tax, and if so what version?

[tagteam · Accepted solution]

The desktop versions of TurboTax support (contain) Form 3115, but you will have to prepare it in Forms Mode.

You might want to consult with a local tax professional if you need to file Form 3115.

[Rick19744]

Keep in mind that even if you are able to prepare the form 3115 in TT, you will need to manually include the Section 481(a) adjustment to your return.

[johnmhtr]

So basically it's not integrated in the program.

Does this also mean that it will NOT be included if I submit the return electronically?

Thanks

[Mike9241]

it is included in the desktop versions.  however, there is no step-by-step mode that asks questions to allow you to complete it. in forms mode, there is a facsimile of the form that allows to read each line and enter what is appropriate.  you are 100% on your own for doing it correctly. once done you can e-file. 

[Carl]

As an addendum to the other replies in this thread, the 3115 is not simple by any stretch of the imagination. So if you don't know what you are doing (and you very well may for all I know) seek professional help. Messing up the 3115 to fix a past mistake (such as incorrect depreciation) and doing it wrong, will make the problem even worse many times over.

[tagteam]

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@johnmhtr wrote:

Does this also mean that it will NOT be included if I submit the return electronically?

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The form, itself, will be included if you e-file but note that, if you're making a 481(a) adjustment, you will have to attach a statement showing the adjustment (so, you need to print and mail the return).

See https://www.irs.gov/instructions/i3115#idm140516453720416

[Rick19744]

@johnmhtr you are correct in that it is not integrated into the software programming.

TT is a software for the masses.  Form 3115 is not a form for the target TT user.

As stated previously, once you determine the Section 481(a) adjustment, you will need to manually input that adjustment into your return.

[johnmhtr]

Thanks for all of the replies.

I also know that the form needs to be filed separately from the return AND with the return. In my case I'll be filing the the form ASAP for 2022.

I may try to find someone to do the form for me, if possible.