The tangible property repair regulations: Plan of rehabilitation, environmental remediation, rotable spare parts, general asset accounts, removal costs, and recovery of certain capital improvements

Washington National Tax Services

This is the third WNTS Insight in a three-part series that discusses in depth the recently issued temporary and proposed regulations regarding the deduction and capitalization of expenditures related to tangible property (the temporary regulations or repair regulations).

The first Insight discussed rules related to effective dates, units of property, and dispositions. (See WNTS Insight, "The tangible property repair regulations: effective dates, units of property, and dispositions," January 4, 2012.) The second discussed rules related to the acquisition or improvement of property. (See WNTS Insight, "The tangible property repair regulations: acquisition or improvement of property," January 5, 2012.) This Insight discusses plan of rehabilitation, environmental remediation, rotable spare parts, general asset accounts, removal costs, and recovery of capital improvements subject to lease.



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