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Election to Capitalize Repair & Maintenance Costs

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    Election to Capitalize Repair & Maintenance Costs

    Need verbage for election IRS Sec 1.263(a)-1(f)

    #2
    Check the choice of elections in your software.

    Comment


      #3
      Have you seen Regs §1.263(a)-1(f)(5)? There are also about ten examples at §1.263(a)-1(f)(7).
      Roland Slugg
      "I do what I can."

      Comment


        #4
        The election is 1.263(a)-3(n) not 1.263(a)-1(f)

        The statement that I use

        The Taxpayer hereby makes the election to capitalize repair and maintenance costs under Regulation 1.263(a)-3(n)

        Taxpayer name(*********)
        Social Security (*********)

        Address (************)

        See TTB 7-7

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