Materials and Supplies Election

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  • Kram BergGold
    Senior Member
    • Jun 2006
    • 2112

    #1

    Materials and Supplies Election

    For clients who have their ducks in a row on this issue, is it ok if the election is present on the return in a year that there are no large personal property purchases (between $201 and $2500). I am thinking of putting the election on a screen that rolls over from year to year. This way when it applies the election will be there without me having to think about it.
  • taxea
    Senior Member
    • Nov 2005
    • 4292

    #2
    unless prohibited by IRS rule this makes sense to me if you have to amend a return for missed items at a later date.
    Believe nothing you have not personally researched and verified.

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