IRS Rules for Certain Rental Real Estate Activities - Late Election Relief
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The Internal Revenue Service is seeking public comments on the information collection associated with Revenue Procedure 2011-34. This procedure allows certain individual taxpayers to make a late election under Treasury Regulation Section 1.469-9(g) to treat all of their interests in rental real estate as a single rental real estate activity for passive activity loss rules. The collection involves taxpayers submitting a statement with their tax return to request this relief. The IRS estimates 2,000 respondents will each spend 30 minutes preparing the required statement, resulting in 1,000 total annual burden hours. This is an extension of an existing approved collection with no changes to the requirements.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- No substantive changes to the information collection requirements
- Extension of OMB Control No. 1545-2194 for Revenue Procedure 2011-34
- Maintains relief under Treas. Reg. §1.469-9(g) for late elections to aggregate rental real estate activities
+ 3 more changes with Pro
Obligations
What this law requires
Individual taxpayers seeking late election relief under Treasury Regulation Section 1.469-9(g) must submit a written statement with their tax return requesting to treat all interests in rental real estate as a single rental real estate activity
Taxpayers must include OMB Control No. 1545-2194 in the subject line when submitting comments on this information collection
Written comments on the information collection must be received on or before June 5, 2026 to be assured of consideration
Comments must be directed to Andres Garcia at the IRS, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or submitted by email to pra.comments@irs.gov
Commenters must not include confidential or sensitive personal information in their submitted comments