Efiling with a Section 751 Statement

[mellynlee]

I have 2 K-1 statements that each require an IRC Section 751 Statement.

I have been advised by other TT experts that I need to write out a document with certain information on it and send these 2 documents when I file my taxes.

In researching other posts on this matter, it seemed that I would be unable to eFile my taxes because of this statement and I would need to submit my taxes through regular mail.

However, I found 2 posts that have other suggestions:

- One post states that I can eFile my taxes (via TT), BUT also fill out another Form 8453, and send it (along with Form 8949 and my Section 751 Statements) by mail 3 days after my Efile was accepted:

https://ttlc.intuit.com/community/business-taxes/discussion/how-do-i-enter-a-section-751-statement/0... 

- Another post states that I can eFile my taxes including the Section 751 Statement:

https://ttlc.intuit.com/community/business-taxes/discussion/can-i-e-file-a-form-1041-and-mail-in-an-... 

Are either of these methods correct, and/or is one preferred? 

And if I have 2 Section 751 Statements, can I submit both of them this way, and/or do I need to combine them somehow?

Also, both of my K-1 packages came with a piece of paper that also states that I "must attach this IRC Section 751 Statement to your 2024 tax return." The paper is titled IRC SECTION 751 STATEMENT and contains the blurb:

The taxpayer has reported ordinary income upon the disposition of units in....The amount was determined in accordance with IRC Section 751. Detailed information is available in the offices of the General Partner upon request.

I was told I do not need to actually attach this piece of paper to my tax return, but instead, will need to create a document with the necessary Section 751 information, and submit that document instead...correct?

[MaryK4]

You can do the 8453 and mail with the statement after you e-file your return. (Preferred)

The one regarding e-filing with the statement applies to a 1041 so it may not work for a 1040.

You do not have to file the exact copy of what you had with your K-1, but it is a good idea to do so, or make sure your 751 election has the same information.  

[mellynlee]

Great - thank you!

One question regarding the Form 8949:  I assume that this form will be e-filed already, but I still need to print a copy of it and send it in the mail along with the Form 8453 and Section 751 statements?

[DianeW777]

Yes. Attach both forms to your Form 8453 and mail as directed within three days of your return being accepted at the IRS. You will be notified by  TurboTax when it is accepted.

@mellynlee