Project Description

Earlier this year, IRS issued long-awaited final regs on a vast subject of vital interest to millions of taxpayers––the application of Code Sec. 162(a) and Code Sec. 263(a) to amounts paid to acquire, produce, or improve tangible property. This article, the fifth of a multi-part Special Study, examines the capitalization of betterments, restorations, and adaptations of property to a new or different use.

See Checkpoint Article