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Posted by Mike20878 on March 6, 2007, 5:25 am
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We use RIA's GoSystem RS at my firm and they no longer
produce the controlled group election statement allocating
section 179 and AMT amounts. They do produce the statement
of tax bracket allocation, but Schedule O appears to replace
this statement. My question is am I required to still file
an election disclosing the apportionment of section 179
expense? I found a separate election statement in GoSystem,
Election for Consent to Controlled Group Allocations, IRC
Section 1561(a).
Thanks,
Mike
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