What to mail in on amended return?

[AZ-Tax]

The only amending I made on the tax return was form 4562 by increasing the one and only vehicle's depreciation by using section 179 linked to a Schedule C business. This obviously changed the numbers on the Sch C and 1040 form but not the Schedule A, 8829, D and a few others.

[solomon]

The 1040X along with any schedules that changed.

[RitaB]

Every form that changed, BUT

The only amending I made on the tax return was form 4562 by increasing the one and only vehicle's depreciation by using section 179 linked to a Schedule C business. This obviously changed the numbers on the Sch C and 1040 form but not the Schedule A, 8829, D and a few others.

I have not looked to see if instructions have changed, but it used to be that they wanted only forms that changed. Yes, the 1040X, too, of course.

However, I have been known to send EVERYTHING. I remember the first time I did a SS lump sum election. They completely missed the yellow highlighted "LSE." After that, I always send the worksheets.

[taxmom34]

179 expense

not sure if i remember right, but i thought you couldn't amend to change to 179 expense. thought it could only be taken on original return

[Gretel]

That changed two or three years ago, but I can't remember if just for some years or if for good.

[thomtax]

not sure if i remember right, but i thought you couldn't amend to change to 179 expense. thought it could only be taken on original return

The original post does not say what year is being amended. If the amended is for the current year, it is my understanding that an amended return received by April 15 is not technically an amended return, but instead replaces the first return received as the filing.

LT

[AZ-Tax]

Amending 2007 tax return

Amending 2007, I would think my ProSeries tax software would have or should I say I hope it would have generated an error if one cannot amend to obtain sect 179. So can I amend to take a section 179?

[RitaB]

Good catch, taxmom34, but since it's 2007...

Amending 2007, I would think my ProSeries tax software would have or should I say I hope it would have generated an error if one cannot amend to obtain sect 179. So can I amend to take a section 179?

http://www.irs.gov/irb/2005-31_IRB/ar06.html

Manner of Making an Election or Revoking an Election Under Section 179
The final regulations provide that for any taxable year beginning after 2002 and before 2008, a section 179 election or a revocation of a section 179 election may be made on an amended Federal tax return for that taxable year to which the election or revocation applies. For any taxable year beginning before 2003, a late section 179 election or a revocation of a section 179 election generally is made by a taxpayer submitting a request for a letter ruling. Accordingly, the final regulations clarify that a section 179 election or a revocation of a section 179 election generally must not be made in any other manner (for example, a section 179 election or revocation of a section 179 election cannot be made through a request under section 446(e) to change the taxpayer’s method of accounting).

[AZ-Tax]

So am I reading this correctly that the final regulations are

allowing my client to elect sect 179 on my clients 2007 amended tax return w/o changing the accounting method?