Hi < tall postman 9284> Is there a 5 year lockin period if y RemoteIndian #tribe

Hi <@U8Z3Q3TQR> Is there a 5 year lockin period if...

calm-grass-85557

06/13/2019, 7:26 AM

Hi @tall-postman-9284 Is there a 5 year lockin period if you start filing your taxes using Section 44 AD. /cc @thankful-cartoon-77359

tall-postman-9284

06/13/2019, 9:04 AM

44AD is for businesses. Professionals are section 44ADA. And there is no lockin for professionals.

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calm-grass-85557

06/13/2019, 9:32 AM

Thank you so much Phani for confirming that 💜

thankful-cartoon-77359

06/13/2019, 9:41 AM

Yes. Thanks Phani. This has been a confusion for me.

tall-postman-9284

06/13/2019, 10:29 AM

The 5 year lockin is applicable only to businesses filing under section 44AD.

tall-postman-9284

06/13/2019, 10:32 AM

tall-postman-9284

06/13/2019, 10:33 AM

See last line in that article

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