709-US: Viewing contents and summaries of all tax elections (FAQ)

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Question

How do I view the contents and summaries of all tax elections included in UltraTax/709?

Answer

To view the complete contents of tax elections, see Viewing and editing the contents of tax elections.

The following is a summary of each tax election.

No. Description Paragraph summary
2 Section 529 Qualified Tuition Programs IRC section 529 election to treat a contribution to a Qualified Tuition Program / Plan as made ratably over 5 years.
3 Automatic GST Allocation - Direct Skip IRC section 2632(b) election to not allocate GST exemption to a direct skip gift.
4 Automatic GST Allocation - Indirect Skip IRC section 2632(c) election to not allocate GST exemption to an indirect skip gift.
5 Automatic GST Allocation - ETIP IRC section 2632(c) election to not allocate GST exemption to a prior year ETIP gift.

Related topic: 709 frequently asked questions

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