[larawilson]

There seems to be a discrepancy in the answers of these two questions. #1453 has the following explanation:

There are three elections that are made at the partner level:

Cost or percentage depletion for oil and gas wells

Reduction of basis of depreciable property when excluding income from discharge of indebtedness

Take a deduction or credit for foreign taxes paid

#1452 has this explanation:

There are four elections that are made at the partnership level:

Taxable year and accounting method

Cost recovery methods and assumptions

Treatment of research and development costs

Amortization of organization costs and start-up costs

So which is it??

FAR - 75
AUD - 74, 76
BEC - 71, 74, 77
REG -