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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 15587
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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what statement or procedure was required when you filled your

Resolved Question:

what statement or procedure was required when you filled your taxt return in 1987 under IRC section 469 to group your properties to meet this election in 1987?
Submitted: 1 year ago.
Category: Finance
Expert:  Megan C replied 1 year ago.

Megan C :

Thank you for your question, and thanks for using JustAnswer.com.

Megan C :

Back in 1987, you would have to file a statement along with your tax return that indicated that you wished to treat activities as one for purposes of 469(c)(7)(a).

Megan C :

This had to be filed along with your original return, it could not be an attachment to an amended return. That didn't become practice until Rev Proc 2011-34. Until that was established, the only way to find relief from the failure to file the election would be to seek a private letter ruling from the IRS

Customer:

I did that but I have not found my tax returns prior to 1990 and the auditor whats that return which I am still looking for. I wanted to make sure what was required if anything to see if I had to continue looking for the older tax return. I have all of them back to 1990 & I group them every year forward which I felt was more than enough proof.

Megan C :

Yes, I understand. But, you will need proof in the form of that tax return - which, it's been nearly 30 years so it's understandable that you are having difficulty locating it, and the IRS only keeps the past 6 years on file to receive copies

Megan C :

I'm truly sorry if this is inconvenient

Customer:

how do I print your statement?

Megan C :

You can use your browser's print function - or you can copy and paste into Word. I would copy and paste that way you can format it nicely. And, once you are satisfied with this communication, please rate my response as "excellent" so that I may receive credit for assisting you today

Customer:

How do I print your respondence?

Megan C :

You can use your browser's print function, or you can copy/paste the information into Microsoft word.

Megan C :

The site will also send you a transcript to your email, once you rate the response and close out of the chat.

Customer:

What is your repondence. I have not received anything?????

Megan C :

Can you see my response now?

Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 15587
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Megan C and 3 other Finance Specialists are ready to help you
Expert:  Megan C replied 1 year ago.
Our chat has ended, but you can still continue to ask me questions here until you are satisfied with your answer. Come back to this page to view our conversation and any other new information.

What happens now?

If you haven’t already done so, please rate your answer above. Or, you can reply to me using the box below.
Expert:  Megan C replied 1 year ago.
Paul,

seems like you could not see my responses so I've switched the format. You can print the conversation using your browser's print function, or by copying/pasting information into Word.

If you have completed your question, please take a moment to rate my response as "excellent" so that I may receive credit for assisting you today. Thanks again, and I'm sorry for the technical difficulties.

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Megan C
Megan C
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Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level