The tangible property repair regulations: effective dates, units of property, and dispositions

Washington National Tax Services
This WNTS Insight is the first in a three-part series that will discuss in depth the recently issued proposed and temporary regulations regarding the deduction and capitalization of expenditures related to tangible property. This Insight will discuss rules related to effective dates, units of property, and dispositions. The second WNTS Insight in this series will discuss rules related to the acquisition or improvement of property. The third will discuss additional topics not previously discussed, including rotable spare parts, environmental remediation, general asset accounts, the recovery of capital improvements subject to lease, and removal costs. (For prior coverage, see WNTS Insight, "Proposed/temporary tangible capitalization regulations: High-level overview," December 27, 2011.)

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