Notes on SAMPLE Form 3115 - myCPE

Notes on SAMPLE Form 3115 1. General a. The SAMPLE Form 3115 relates to a residential rental property (where the entire building depreciated using recovery period, and no allocation was previously made to land improvements or personal property). b. It assumes that the reduced reporting rules for "qualified small taxpayers" apply. i. This should be true for most of clients. 1. A "qualified small taxpayer" is a taxpayer whose average annual gross receipts, as determined under (a)-3(h}(3}, for the three preceding taxable years is less than or equal to $10,000,000.))

203 Real Estate Investors, LLC 53110 0MB No. 1545-2070 Number, street, and room or suite no. If a P.O. box, see the instructions. Tax year of change begins (MM/DD/YYYY) 1 / O 1 / 2 0 19 203 N Street NE Tax year of change ends (MM/DD/YYYY) 12 / 31 / 2 0 19 City or town, state, and ZIP code Name of contact person (see instructions)

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