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When, where, and how does the election to immediately deduct the qualifying expenditures apply?

April 26, 2017deduct election expenditures immediately Qualifying

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When, where, and how does the election to immediately deduct the qualifying expenditures apply?

2 Answers

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The election is to be made on the tax return for the taxable year in which the production costs are first incurred. The election must be made by the due date (including extensions of time) of such return. The manner and form of the election will be determined by the IRS at a later date.

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The election is to be made on the tax return for the taxable year in which the production costs are first incurred. The election must be made by the due date (including extensions of time) of such return.