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Completing Form 3115 (Application for Change in Accounting Method)

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📊 Step-by-Step Guide

Step 1: Page 1

You must indicate whether the form is for Business or Individual, and then select the correct check boxes.

• You must indicate this form either Business or Individual.
• If you select the Individual check box, you must enter either T for taxpayer, S for spouse, or J for a joint return.
• Information will carry over from the Main Information Sheet.
• Read each item and select the appropriate check box.
• If you answer Yes to line 3, the applicant is not eligible to request the change in accounting method.

Step 2: Page 2

Complete the check boxes and use function keys to link statements when needed.

• Read each item and select the appropriate check box.
• Press F9 to link to a statement on line 6.
• This page may be duplicated by pressing Shift+ F10.
• See the IRS instructions for more information.

Step 3: Page 3

Link statements for line 12d and answer each question using the correct check boxes.

• Press F9 to link to a statement on line 12d.
• Read each question and select the appropriate check boxes.
• See the IRS instructions for Form 3115 for more information.

Step 4: Page 4

Enter amounts for the prior tax year and select the correct options for recurring item exception.

• Line 1: Enter the amounts on lines 1a through 1h as of the close of the tax year preceding the year of change. If none, select the check box.
• Line 2: Select the applicable check box to indicate if the applicant is also requesting the recurring item exception (section 461(h)(3)).
• See the IRS instructions for Form 3115 for more information.

Step 5: Page 6

Answer each question using the appropriate check boxes.

• Read each question and select the appropriate check boxes.
• See the IRS instructions for Form 3115 for more information.

Step 6: Page 7

Complete the lines for both the present method and the proposed method.

• Complete the applicable lines for the present method and proposed method.
• See the IRS instructions for Form 3115 for more information.

Step 7: Page 8

Select the correct check boxes and link statements for the required lines.

• Read each item and select the appropriate check box.
• By pressing F9 on line 4a and line 7b, you may link to the appropriate statement needed to list information.
• See the IRS instruct

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