I need to file a Section 266 election statement with my 2016 tax return. Is there any way to e-file that statement with my return or do I have to print a paper return.

Here is a helpful link regarding filing with a section 266 election statement..  Hope this helps..

"How do I do this?"

You would need to add the statement to your return, per Reg. 1.266-1:

See https://ttlc.intuit.com/questions/2899874-amt-takes-away-any-advantage-to-property-taxes-can-propert...