SECTION 7. TIME AND MANNER OF

MAKING ELECTION

.01 Time for making election and des- ignation . A taxpayer designates, under section 4.09 of this notice, and elects to treat property as QPP by making the election under this section 7 by the due date, including extensions, of the taxpayer’s original Federal income tax return for the taxable year in which the eligible property is placed in service by the taxpayer.

.02 Manner of making election and designation . A taxpayer makes a designation and an election under this section 7 by attaching a statement to its Federal income tax return for the taxable year in which the eligible property is placed in service. The designation and election are made separately by each person owning the eligible property (for example, for each member of a consolidated group by the agent for the group (within the meaning of § 1.1502-77(a) and (c)). The statement, entitled “STATEMENT PURSUANT TO SECTION 7 OF NOTICE 2026-16”, must include the following information—

(1) The name and taxpayer identification number of the taxpayer making the election;

Bulletin No. 2026–11 693 March 9, 2026

(2) For each property placed in service in the taxable year for which an election under this section 7 is being made:

(a) The street address, city, state, zip code, and a description of the property;

(b) The total unadjusted depreciable basis of the property;

(c) If the eligible property is less than the entire property, the dollar amount of unadjusted depreciable basis allocable to the eligible property, and a description that identifies the eligible property; and

(d) The dollar amount of the unadjusted depreciable basis of eligible property the taxpayer is designating as QPP (or a statement that the taxpayer is designating the entire unadjusted depreciable basis of the eligible property as QPP);

(3) If the taxpayer is applying the de minimis rule described in section 4.02(2) of this notice to an eligible property, a declaration that the taxpayer is applying the de minimis rule described in section 4.02(2) of Notice 2026-16 and identification of each eligible property to which the de minimis rule is applied; and

(4) If the taxpayer is using the automatic one-year extension of the placed-inservice-date requirement in section 4.11 of this notice—

(a) A declaration that— (i) The taxpayer is using the automatic one-year extension of the placed-in-service-date requirement in section 4.11 of Notice 2026-16; and

(ii) Each property for which the taxpayer is using the automatic one-year extension was located in a disaster area for all or a portion of 2030; and

(b) Identification of each eligible property listed under section 7.02(2) of this notice for which the taxpayer is using the automatic one-year extension of the placed-in-service-date requirement in section 4.11 of this notice, and identification of the federally declared disaster (as defined in § 165(i)(5)) that established the disaster area applicable to each eligible property.

.03 Revocation . Any election made under section 7 of this notice, and any designation under section 4.09 of this notice contained in such election, may be revoked only by filing a request for a private letter ruling and obtaining the written consent of the Secretary. The Secretary will provide consent only in extraordinary

circumstances. See § 168(n)(6)(B). If the request for revocation would allow a taxpayer to use hindsight, the extraordinary circumstances standard is not met.