Election to Capitalize Repair & Maintenance Costs

[bobbrett]

Need verbage for election IRS Sec 1.263(a)-1(f)

[Lion]

Check the choice of elections in your software.

[Roland Slugg]

Have you seen Regs §1.263(a)-1(f)(5)? There are also about ten examples at §1.263(a)-1(f)(7).

[Gene V]

The election is 1.263(a)-3(n) not 1.263(a)-1(f)

The statement that I use

The Taxpayer hereby makes the election to capitalize repair and maintenance costs under Regulation 1.263(a)-3(n)

Taxpayer name(*********)
Social Security (*********)

Address (************)

See TTB 7-7