election

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • gman
    Senior Member
    • Dec 2005
    • 676
    #1

    election

    If you make the election for the new repair and safe harbor rule, what is entered on form 3115?
    Tags: None
    • TaxGuyBill
      Senior Member
      • Oct 2013
      • 2322
      #2
      Which election are you talking about? The 'de minimis' election to expense items $500 and less?


      Well, it actually doesn't matter what your answer is. An "election" for the Capitalization Regulations is an ANNUAL statement that you attach to the tax return. An election does NOT require Form 3115. Form 3115 is only required if you are making a permanent "change".

        Comment

        Previous template Next

        Disclaimer

        Collapse

        This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

        Working...