In changing from LIFO to FIFO and the income is greater than 25,000, does the taxpayer have to take the income over 4 years or may the taxpayer elect a shorter time?
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In changing from LIFO to FIFO and the income is greater than 25,000, does the taxpayer have to take the income over 4 years or may the taxpayer elect a shorter time?
This is more a tax question so I am asking for it to be moved there where an expert can help.
Insufficient information to post a cogent answer!
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