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April 9, 2025
Question

Help with Sched C of form 709 line 3.

  • April 9, 2025
  • 1 reply
  • 0 views

I have no idea what to put down for the 'Restored Exclusion' on line 3. The instruction useless.

 

1 reply

KrisD15
April 9, 2025

That would only apply if you have a deceased spouse and their exclusion was transferred to you.

 

It is the Deceased Spouse's Unused Exclusion if that was elected by the executor of the spouse's estate. 

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QmavamAuthor
April 9, 2025

KrisD15 said, "That would only apply if you have a deceased spouse and their exclusion was transferred to you."

I have no Deceased Spouse. So is the whole form Not Applicable and I don't put any numbers on the form.

                                    Thank you

I'm pulling my hair out on this!