Question: What step is required by a taxpayer to make or revoke a Section 179 election? a) A taxpayer must file an amended return within the
What step is required by a taxpayer to make or revoke a Section 179 election?
a) A taxpayer must file an amended return within the legal time limits for the tax year to which the election applies.
b) A taxpayer may not make or revoke a Section 179 election once the tax return for the tax year for which the election applies has been filed.
c) A Section 179 election may not be revoked.
d) A taxpayer must send a written request to the IRS to adjust the original return.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
