Form 3115 Change Number

[Maribeth]

Is there enough space to enter all these numbers? I am not even sure if my tax program will take so many numbers in one slot. I hope we do not have to file one Form 3115 for each number.

Is there a consensus among tax professionals as to how it should be done?

I took a 3115 webinar from NATP which was fantastic. They indicate that for the property regs it is okay to submit one 3115 for all of the changes, ie, one 3115 for #186,#187, #189. You put "stment" in the code box and then detail out in your supporting statements the changes you are applying for.

And remember that the paper copy goes to Ogden, UT, not to Washington, DC.

We use Drake and Drake does not have the functionality to use more than one code yet. So we have templated up the 3115 and the supporting statements and will be attaching a pdf file to the efile. We will not take the time to try and create the 3115 within the tax software.

[Sabre]

form 3115

The deminimis election is not on form 3115 but is a separate election which should be in your software.

Get on the brasstax.com web site and download Lisa's Correcting Depreciation Form 3115 booklet-it will very quickly answer the question you posed and is easily worth the $20 fee.

[AccTaxMan]

#184 - change to deduct amount paid for repairs or maintenance or change to capitalize amounts for improvements
#186 - change to deduct non-incidental supplies when consumed
#187 - change to deduct incidental materials & supplies when paid
#188 - change to deducting non-incidental rotable and temporary parts when disposed of
#189 - change to optional method for rotable and temporary parts
#192 - change to capitalize acquisition or production costs and, if depreciable, to depreciate such property
#193 - change to deduct costs of investigating acquisition of real property.

Is there enough space to enter all these numbers? I am not even sure if my tax program will take so many numbers in one slot. I hope we do not have to file one Form 3115 for each number.

Is there a consensus among tax professionals as to how it should be done?

[Maribeth]

#184 - change to deduct amount paid for repairs or maintenance or change to capitalize amounts for improvements
#186 - change to deduct non-incidental supplies when consumed
#187 - change to deduct incidental materials & supplies when paid
#188 - change to deducting non-incidental rotable and temporary parts when disposed of
#189 - change to optional method for rotable and temporary parts
#192 - change to capitalize acquisition or production costs and, if depreciable, to depreciate such property
#193 - change to deduct costs of investigating acquisition of real property.

[AccTaxMan]

If a taxpayer is filing the Form 3115 without any 481 adjustments, what change number(s) should be entered on Part 1 question 1?

I have read you need a change number for the Safe Harbor De Minimis, a change number for the UOP, a change number to adopt the Materials and Supplies new rules, etc.

Is there an universal number to cover everything?