Controlled group election and Schedule O

Mar 06, 2007 0 Replies

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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