Election to Aggregate All Rental Real Estate on Turbotax

[sunnyside8989]

Can a Section 469(c)(7)(a) election be done in turbo tax? I would like to ask if I can do so to elect to aggregate all my rental real estate activities online through Turbotax without mailing any documents. This is for tax year 2024. I read through mutiple thread and look like you can do so using Desktop version and through Forms Mode. But still want to hear more thoughts from our community to confirm.

Thanks so much

[MindyB]

The election for real estate professionals to aggregate their activities under  IRC 469(c) (7) is not supported at this time.

However, you can paper-file your return and attach a statement to make the election. 

Making the Election (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."