The similarities between like-kind and section 351 exchanges suggest that guidance for depreciating
property in the former may also be applied to the latter.
Most new cars will depreciate in value, with different brands depreciating
at different rates," says Thomas.
They have no problem identifying these costs and depreciating
them as personal property.
Such customers can terminate their patronage at will, depreciating
the customer lists' value.
In 1999, NGS filed amended returns for its 1994-1996 tax years, stating that it was opting to elect out of MACRS, instead depreciating
its rented gaming equipment using a method "not expressed in terms of years" under Sec.
the property according to Notice 2000-4 accelerates depreciation over that allowed for newly purchased MACRS property.
731, the taxpayer "stepped into the shoes" of the partnership, to the extent of the partnership's basis in the property at the time of the distribution, and continued depreciating
the property as if the property had not been distributed.
197, added by the Omnibus Budget Reconciliation Act of 1993, provides a method for depreciating
and amortizing certain intangible assets, called "Sec.
Accordingly, the income forecast method is an allowable method of depreciating
Because the excess can be carried over, the tax savings will be greater than depreciating
the asset over its useful life.
What would prevent an automotive repair shop from depreciating
its spare parts?
seeking to "modify the per se ban on depreciating