it depends. I should have worded this a little better to clarify my decision. He asked if it was alright to elect to take the simplified election. My point is that yes it is OK but only if you have one type of income category to report. If there are several types though, you cannot make the simplified election.
The rules state that if you make the simplified this year and then try to change your mind next year, then this is not allowed unless you obtain IRS consent. My point is, if you choose the simplified method this year and then you find next year you have several categories of income, then do not pick the simplified method. I hope this clears up the confusion.
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