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The election covers only the current tax year. If you didn't expense any
purchases that would be included under this election, you may go back
and change your answers (if you have not yet filed). But there is no harm in taking the election
when you don't use it.
If you want to go back and change your answer, you will see the election in the Assets/Depreciation section of your Schedule C business or Schedule E rentals.
The election covers only the current tax year. If you didn't expense any
purchases that would be included under this election, you may go back
and change your answers (if you have not yet filed). But there is no harm in taking the election
when you don't use it.
If you want to go back and change your answer, you will see the election in the Assets/Depreciation section of your Schedule C business or Schedule E rentals.
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