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Capitalization of Tangible Assets Regulations  

CATEGORY: Taxation
COURSE ID: CLARET, VERSION 10.00
(100)
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3 CPE Credits

This course discusses the most recent regulations regarding deduction and capitalization of expenditures related to tangible property. The first chapter discusses distinguishing between incidental materials and supplies, non-incidental materials and supplies, and those used to improve property. This chapter will then discuss the appropriate treatment of rotable and temporary spare parts, using case studies to illustrate key elements. The second chapter discusses the rules of capitalization under Section 263(a) and provides an overview of the de minimis provision and discusses applying regulations regarding determination of the unit of property. It goes on to apply these rules to improvements, and discusses the distinction between improvement and routine maintenance.

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