I have a web application being developed on Windows 8.1, .NET 4.5.1, IIS 8.5 (under Integrated AppPool), Visual Studio 2013 over the default template that includes ASP.NET I
The way to fix this issue is not within IIS. I was trying to run my application within IIS Express within Visual Studio. I searched the web and some articles were saying to add an identity tag to the system.web tag. This is not the correct way.
The way I was able to solve this issue was to click on the project file and go to properties. Under managed pipeline, I changed the property value from classic to integrated.
This solved my issue.