Effen Posted November 24, 2008 Posted November 24, 2008 Does anyone know if a plan takes the automatic 5-yr extensions for the charge bases in the 2008 valuation, if they would be permitted to take another automatic 5-yr extension on bases created in the 2009 valuation (investment losses) In other words, can you keep taking the 5-yr extenstion on new bases every year or is it "one and done" kind of thing? I didn't see anything saying I can't keep taking the exentions, but then again I didn't see anything that said I could. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
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