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Megan C
Megan C , Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16539
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: 2 years ago.
Category: Finance
Expert:  Megan C replied 2 years 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 and 2 other Finance Specialists are ready to help you
Expert:  Megan C replied 2 years 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.