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imposed by this chapter for the taxable year.
Such an election shall be made in such a manner as the Secretary
may by regulations prescribe.
Section 1.179-5(a), Income Tax Regs., provides that the
election under section 179
shall be made on the taxpayer's first income tax return
for the taxable year to which the election applies
(whether or not the return is timely) or on an amended
return filed within the time prescribed by law
(including extensions) for filing the return for such
taxable year. * * * [Emphasis added.]
Petitioner made no section 179 election for the computer on
her 1994 return or any amended return filed within the time
prescribed by law, including extensions, for filing her 1994
return. Alisobhani v. Commissioner, T.C. Memo. 1994-629; Subt v.
Commissioner, T.C. Memo. 1991-429. Thus, pursuant to section
1.179-5(a), Income Tax Regs., petitioner should have filed an
amended return no later than October 15, 1995 (assuming valid
extensions), in order for petitioner to have properly elected
section 179 treatment. Thus, petitioner is not entitled to an
expense deduction under section 179 for the computer. Starr v.
Commissioner, T.C. Memo. 1995-190, affd. without published
opinion 99 F.3d 1146 (9th Cir. 1996).
To reflect the foregoing,
Decision will be entered
under Rule 155.
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Last modified: May 25, 2011