Attaching a note in e-filing

[pm8921]

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.

[Mike9241]

no Turbotax doesn't so the return must be paper-filed

from the Journal of Accountancy 

A taxpayer makes the election by filing a statement with the taxpayer’s original income tax return for the tax year (Regs. Sec. 1.469-9(g)(3)). This statement should explicitly declare that the taxpayer is a qualifying taxpayer (i.e., the taxpayer meets the requirements to be a real estate professional) for the tax year and is making the election under Sec. 469(c)(7)(A). Once the election is made, it is binding for the tax year in which it is made and for all future years in which the taxpayer is a qualifying taxpayer, even if there are intervening years in which the taxpayer is not a qualifying taxpayer.

therefore the election would only have to be made for the initial return for which the election is to apply.