I understand that 'aggregate multiple rental properties for the purpose of 469(c)(7)(A) is not supported in TurboTax 2021. However, when I look at TaxAct, which claims it supports it. Actually, it just allows users to attach a declaration note along with e- filing (see below).
Does TurboTax premium allow to attach such a note in e-filing?
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IRC Section 469(c)(7)(A) - Multiple Rental Properties
An IRC Section 469(c)(7)(A) Election to Aggregate Rental Real Estate Activities, is a statement written down on a piece of paper (there is not
a special form to fill out) and sent with your return for the tax year of the election. You can do this in the TaxAct program and still
e-file the return.
1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
2. Click Miscellaneous Topics in the Federal Quick Q&A Topics menu to expand, click Additional Information for E-Filing to expand, then click E-Filing Notes and Explanations.
3. Continue with the interview process to enter all of the appropriate information.
4. On the screen titled E-Filing - Election Explanations for Electronic Return, enter your election, then click Continue. Please click the info icon for additional information regarding what to include in your explanation.
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Thanks.
