Discussion Archives:Elect out after revoking a 179 election

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Discussion Forum Index --> Advanced Tax Questions --> Elect out after revoking a 179 election


Discussion Forum Index --> Tax Questions --> Elect out after revoking a 179 election

Cottcpa (talk|edits) said:

29 March 2009
Is there anything out there that supports the position that upon taxpayer's filing a 1040X to revoke a prior year ยง 179 election on a vehicle under 1.179-5(c), he can concurrently elect to deduct mileage on that vehicle under 168(f)(1) for the year amended and thereafter? I know it's too late to go back and elect out of MACRS as a general rule (Reg 301.9100-7T), but I'm having a surprisingly hard time finding anything directly on this question. I'm just curious as for how the the IRS can refuse the election on considerations of administrative headache and gaming/hindsight, when Reg. 1.179-5(c) itself creates the former and incentivizes the latter???
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