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taxmap/pubs/p946-016.htm#TXMP4b21bc04 How Can You Elect Not To Claim an Allowance?

You can elect, for any class of property, either:

• To deduct the 30% special allowance, instead of the 50% allowance (unless the allowance is for qualified GO Zone property or for qualified cellulosic biomass ethanol plant property), for all property in such class placed in service during the tax year, or
• Not to deduct any special allowances for all property in such class placed in service during the tax year.

For qualified long production period property and noncommercial aircraft acquired before May 6, 2003, and for qualified Liberty Zone property, you can elect, for any class of property, not to deduct the 30% special allowance for all property in such class placed in service during the year. For qualified GO Zone property and qualified cellulosic biomass ethanol plant property, you can elect, for any class of property, not to deduct the 50% special allowance.

To make an election, attach a statement to your return indicating what election you are making and the class of property for which you are making the election.

taxmap/pubs/p946-016.htm#TXMP6e66420f When to make election.

Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service.

However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). Attach the election statement to the amended return. On the amended return, write "Filed pursuant to section 301.9100-2."

taxmap/pubs/p946-016.htm#TXMP18667539 Revoking an election.

Once you elect not to deduct a special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. A request to revoke the election is a request for a letter ruling. See Changing Your Accounting Method in chapter 1.

If you elect not to have any special allowance apply, the property may be subject to an alternative minimum tax adjustment for depreciation.

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