Form 3115 Change Number

[TXEA]

We purchased all of our paper supplies for tax season at the end of the year. Over $500.

Was each item over $500.00? It applies to each item on the receipt or invoice......not the total.

[mactoolsix]

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.

Sabre - thanks for the brasstax recommendation! I downloaded the booklet and forms last night - GREAT resourse!!!

Now plan on taking the NAPT webinar Maribeth recommended.

Mike

[TaxprepP]

Part II must be filled out for all changes. Part IV must be filled out, even if you do not have a 481(a) adjustment. Attach a statement that details your changes from Part II.

NATP has a wonderful webinar on the 3115. If you are a member, or even if you are not a member, it is a good class to take and provides templates for you to use in preparing the 3115. It is only 2 hours long.

Thanks for the information but I am still a little confused. Part II is only if have changes or must be filled out even if no changes? You say Part IV has to be filled out even if no changes, I take it then the answer to question 24 will be ‘No’.

Unfortunately, I am not a member of the NATP. I occasionally received emails from them on some classes and webinars but did not receive one on the 3115. Some of their courses are a little pricey for me.

[Maribeth]

Thanks for the information but I am still a little confused. Part II is only if have changes or must be filled out even if no changes? You say Part IV has to be filled out even if no changes, I take it then the answer to question 24 will be ‘No’.

Unfortunately, I am not a member of the NATP. I occasionally received emails from them on some classes and webinars but did not receive one on the 3115. Some of their courses are a little pricey for me.

Part II is filled out for ALL requests. Look at the form, it says that right on it.

Part IV, questions 24 is no. Question 25 probably would be Zero/None. Questions 26 & 27 would be left blank.

[TaxprepP]

Part II is filled out for ALL requests. Look at the form, it says that right on it.

Part IV, questions 24 is no. Question 25 probably would be Zero/None. Questions 26 & 27 would be left blank.

I know my question propably sounded a little ditsy. But I felt it never hurts to confirm even at the risk of sounding dim-witted.