Publication 946 |
2000 Tax Year |
Election To Exclude Property From MACRS
If you properly depreciate any property under a method not based on
a term of years, such as the unit-of-production method, you can elect
to exclude that property from MACRS. You make the election by
reporting your depreciation for the property on line 18 in Part III of
Form 4562 and attaching a statement as described in the instructions
for Form 4562. You must make this election by the return due date
(including extensions) for the tax year you place your property in
service. However, if you timely filed your return for the year without
making the election, you can still make the election by filing an
amended return within six months of the due date of the return
(excluding extensions). Attach the election to the amended return and
write "FILED PURSUANT TO SECTION 301.9100-2" on the
election statement. File the amended return at the same address you
filed the original return.
Use of Standard Mileage Rate
If you use the standard mileage rate to figure your tax deduction
for your business automobile, you are treated as having made an
election to exclude the automobile from MACRS. See Publication 463
for
a discussion of the standard mileage rate.
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