990-US: Viewing the contents and summaries of all tax elections (FAQ)
How do I view the contents and summaries of all tax elections for the 990 return?
To view the complete contents of tax elections, see Viewing the contents of tax elections.
The following is a summary of each tax election.
1 Depreciation - ADS IRC Section 168(g)(7) election to use the Alternative Depreciation in calculating the deduction for personal property with no assigned class life placed in service for the tax year ending and covering all such property placed into service during the tax year.
2 Depreciation - DB 3 Yr Prop IRC Section 168(b)(2)(D) election to use the 150% declining balance method instead of the 200% declining method in calculating the deduction for 3-year property placed in service for the tax year ending and covering all such property placed into service during the tax year.
5 Depreciation - DB 10 Yr Prop IRC Section 168(b)(2)(D) election to use the 150% declining balance method instead of the 200% declining method in calculating the deduction for 10-year property placed in service for the tax year ending and covering all such property placed into service during the tax year.
9 Depreciation - DB All Prop IRC Section 168(b)(2)(D) election to use the 150% declining balance method instead of the 200% declining method in calculating the deduction all property placed in service for the tax year ending and covering all such property placed into service during the tax year.
10 Depreciation - DB to SL Former IRC Section 167(e)(1) and Regulation 1.167(e)-1(b) election to change from the declining balance method to straight line method of depreciation, with respect to all non-ACRS and non-MACRS property.
11 Depreciation - Excl from MACRS IRC Section 168(f)(1) election to depreciate property (see depreciation schedules attached) under the unit of production method.
17 Depreciation - SL 7 Yr Prop IRC section 168(b)(3)(D), election to use the straight-line method of depreciation instead of the regular statutory method in calculating the deduction for 7-year property placed into service during the tax year and made in accordance with section 168(b)(5), applies to all such property placed in service during the tax year.
18 Depreciation - SL 10 Yr Prop IRC section 168(b)(3)(D), election to use the straight-line method of depreciation instead of the regular statutory method in calculating the deduction for 10-year property placed into service during the tax year and made in accordance with section 168(b)(5), applies to all such property placed in service during the tax year.
22 Depreciation - SL All Prop IRC section 168(b)(3)(D), election to use the straight-line method of depreciation instead of the regular statutory method in calculating the deduction for all property placed into service during the tax year and made in accordance with section 168(b)(5), applies to all such property placed in service during the tax year.
24 Qualifying Distributions IRC section 4942(h)(2) and Reg. 53.4942(a)-3(d)(2) election by nonoperating private foundation to treat excess current-year distributions as either prior-year undistributed income or corpus.
25 Savings Bond Income IRC Regulation 1.454-1(a)(1) election to include in current income the annual increase in the redemption price of all non-interest bearing discount obligations.
26 Section 41(e)(6)(D) Foundation IRC section 41(e)(6)(D) and Reg. 1.41-7(f) election by IRC section 501(c)(3) to be treated as a private foundation for purposes other than the section 4940 investment income excise tax.
27 Simplified Production Method IRC section 263A and Reg. 1.263A-2(b) election to use the simplified production method of accounting for costs.
28 Simplified Resale Method IRC section 263A and Reg. 1.263A-3(d) election to use the simplified resale method for allocating additional section 263A costs properly acquired for resale and other eligible property.
29 Simplified Service Cost Method IRC section 263A and Reg. 1.263A-1(h) election to use the simplified service cost method for allocating capitalizable mixed service costs that are properly allocable to production or resale activities.
32 Unused Corpus Distributions IRC section 4942(g)(3) and Reg. 53.4942(a)-3(c)(2)(iv) election by nonoperating private foundation to treat unused prior-year corpus distributions as current-year distributions.
36 De Minimis Safe Harbor IRC Regulation 1.263(a)-1(f) to apply de minimis safe harbor to all qualifying property placed in service during the year.
37 Safe Harbor for Small Taxpayers IRC Regulation 1.263(a)-3(h) to deduct the costs of repairs, maintenance, improvements, and similar activities performed on eligible buildings.
38 Capitalize Repair and Maintenance Costs IRC Regulation 1.263(a)-3(n) to capitalize repair and maintenance costs.
71 Out of 50% Bonus - All Prp IRC section 168(k) to elect out of the 50% first-year bonus depreciation allowance for all eligible asset classes of depreciable property acquired after December 31, 2007, and applies to all eligible depreciation property placed in service during the tax year.
72 Out of 50% Bonus - 3 Yr IRC section 168(k) to elect out of the 50% first-year bonus depreciation allowance for 3-year depreciable property acquired after December 31, 2007, and applies to all such eligible depreciation property placed in service during the tax year.
75 Out of 50% Bonus - 10 Yr IRC section 168(k) to elect out of the 50% first-year bonus depreciation allowance for 10-year depreciable property acquired after December 31, 2007, and applies to all such eligible depreciation property placed in service during the tax year.
79 Out of 50% Bonus - 27.5 Yr IRC section 168(k) to elect out of the 50% first-year bonus depreciation allowance for 27.5-year depreciable property acquired after December 31, 2007, and applies to all such eligible depreciation property placed in service during the tax year.
81 Out of 50% Bonus - IRC 167 IRC section 168(k) to elect out of the 50% first-year bonus depreciation allowance for IRC section 167 computer software acquired after December 31, 2007, and applies to all such eligible depreciation property placed in service during the tax year.