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How to Make Business Grouping Election
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evankhut
Level 1
04-08-2021
12:02 PM
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In order to avoid the PAL rules, we are trying to group 2 activities together for the purposes of §469.
However, there looks to only be the ability to "Elect to treat all interest in real estate as a single rental real estate activity" on the Individual Elections Summary for a Form 1040.
My question is: Is there a default election like this (except not for a rental activity, but rather a business)
And if not, how would I go about putting in my own election statement?
Thank you.
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