Form 3115 in a nutshell

[ILLMAS]

Does form 3115 have to be prepared if you are not making any of the following changes:

 

• The treatment of an asset from nondepreciable to depreciable or vice versa.
• Change to the depreciation method, recovery period or convention of a MACRS asset.
• Change from improperly expensing to capitalizing an asset.

Or do you simply elect the Safe Habor and forget about form 3115?

 

 

Thanks

 

MAS

 

 

 

[ILLMAS]

I wanted to add this, but permission to edit my post was denied.

 

http://mcgladrey.com/content/dam/mcgladrey/pdf_download/wc_final_proposed_tangible_property_regulations_qa.pdf