Cryptography Reference
In-Depth Information
Chapter 18
Obfuscation
18.1 Regulation
From DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9115]
RIN 1545-BC27
Temporary regulations issued under 1.168(k)-1T and 1.14-
00L(b)-1T (TD 9091, 68 FR 52986 (September 8, 2003))
provide that the exchanged basis (referred to as the car-
ryover basis in such regulations) and the excess basis,
if any, of the replacement MACRS property (referred to
as the acquired MACRS property in such regulations) is
eligible for the additional first year depreciation deduc-
tion provided under section 168(k) or 1400L(b) if the re-
placement MACRS property is qualified property under
section 168(k)(2), 50-percent bonus depreciation prop-
erty under section 168(k)(4), or qualified New York Lib-
erty Zone property under section 1400L(b)(2). However, if
qualified property, 50-percent bonus depreciation prop-
erty, or qualifiedNewYork Liberty Zone property is placed
in service by the taxpayer and then disposed of by that
taxpayer in a like-kind exchange or involuntary conver-
sion in the same taxable year, the relinquished MACRS
property (referred to as the exchanged or involuntarily
convertedMACRS property in such regulations) is not el-
igible for the additional first year depreciation deduction
under section 168(k) or 1400L(b), as applicable. However,
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