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Abstract
Amended Return Due Date When an amended return (including an amended Form 1065, U.S. Return of Partnership Income) is filed for the placed-inservice year to correct the QIP depreciation period and/or claim bonus depreciation, the amended return is due on or before October 15, 2021, but not later than the applicable assessment limitations period. The covered elections are: * election to use the MACRS alternative depreciation system (ADS) (Code Sec. 168(g)(7)); * election to claim bonus depreciation on specified plants in the year of planting or grafting (Code Sec. 168(k)(5)); * election out of bonus depreciation for a class of property (Code Sec. 168(k) (7)); and * election to claim bonus depreciation at the 50 percent rate in lieu of the 100 percent rate for all bonus depreciation property placed in service in a tax year that includes September 28, 2017 (Code Sec. 168(k)(10)). Section 6.19 provides that certain "eligibility" rules do not apply. [...]the automatic procedure will apply even if the change is made in the taxpayer's last tax year of business or the taxpayer made a change for the same item during any of the five tax years ending with the year of change.