Practical application of the new MACRS depreciation regs.
The Tax Adviser › Vol. 35 Nbr. 6, June 2004
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Summary
Modified accelerated cost recovery system
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Practical application of the new MACRS depreciation regs.
In March 2004, the IRS published temporary and proposed regulations (TD 9115; REG-106590-00) addressing depreciation of modified accelerated cost recovery system (MACRS) property acquired in a like-kind exchange under Sec. 1031 or as a result of a Sec. 1033 involuntary conversion, when both the relinquished and the replacement property are subject to MACRS in the acquiring taxpayer's hands. The temporary regulations are effective for like-kind exchanges and involuntary conversions of MACRS property for which the times of disposition...
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