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regulations. As in ABC Rentals of San Antonio, Inc. v.
Commissioner, supra, for year 1, on its original tax return,
petitioner failed to provide most of the information required
under the temporary regulations, including the method of
depreciation elected, the applicable Code section, the year the
rental property was placed in service, and the adjusted basis of
the rental property. In addition, as in ABC Rentals of San
Antonio, Inc. v. Commissioner, supra, petitioner left blank the
line on Form 4562 for “Property subject to section 168(f)(1)
election.”4
C. The 1995 and 1996 Tax Years
For the 1995 and 1996 tax years, petitioner contends that it
substantially complied with the section 168(f)(1)(A) election
requirement. Even if we assume arguendo that petitioner
substantially complied with the section 168(f)(1)(A) election
requirement, we hold, however, that petitioner did not meet the
second test of section 168(f)(1) that requires that the property
be “properly depreciated under the unit-of-production method or
4 As a preliminary matter, petitioner’s amended return was
untimely for sec. 168(f)(1) purposes. The temporary regulation
provides that the election must be made by the due date of the
tax return for the first taxable year for which the election is
to be effective, taking extensions into account. Sec. 301.9100-
7T(a)(2)(A), Temporary Proced. & Admin. Regs., 52 Fed. Reg. 3626
(Feb. 5, 1987). Petitioner filed its amended return on July 2,
1999, years after the due date of the original tax return.
Therefore, we do not consider petitioner’s amended return in
determining whether petitioner made an election or substantially
complied with the temporary regulation.
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