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PropertyAcquisitions
andCostRecoveryDeductions
PropertyAcquisitions
andCostRecoveryDeductionsLearningObjectivesDecideifabusinessexpenditureshouldbedeductedorcapitalized.Definethetermstaxbasisandadjustedbasis.Explainhowleveragecanreducetheafter-taxcostofassets.Computecostofgoodssoldfortaxpurposes.UnderstandtheMACRSframework.ApplytheSection179expensingelection.IncorporatedepreciationdeductionsintotheNPVcomputation.Explainhowthecostofpurchasedintangiblesisrecoveredthroughamortization.Distinguishbetweencostdepletionandpercentagedepletion.PropertyAcquisitions
andCostRecoveryDeductionsDeductibleExpenseorCapitalizedCost?Capitalizationmeansthatanexpenditureisrecordedasanassetonthebalancesheetratherthanasacurrentexpense.PropertyAcquisitions
andCostRecoveryDeductionsDeductibleExpenseorCapitalizedCost?RepairsandCleanupCostsDeductionsofCapitalExpendituresasSubsidiesPropertyAcquisitions
andCostRecoveryDeductionsTheCriticalRoleofTaxBasisBasis,CostRecovery,andCashFlowCostBasisLeveragedCostBasisPropertyAcquisitions
andCostRecoveryDeductionsIntroductiontoCostRecoveryMethodsInventoriesandCostofGoodsSoldTheUnicapRulesExamplesofindirectcoststhatmustbecapitalizedtotheextenttheyrelatetoafirm’sproductionorresalefunctioninclude:·Officer’scompensation·Pension,retirement,andotheremployeebenefits·Rentspaidonbuildingsandequipmentusedinamanufacturingprocess·Premiumspaidtocarrypropertyinsuranceonproductionassets·CostrecoverydeductionsforproductionassetsPropertyAcquisitions
andCostRecoveryDeductionsInventoriesandCostofGoodsSoldComputingCostofGoodsSoldFIFO:first-in,first-outLIFO:last-in,first-outPropertyAcquisitions
andCostRecoveryDeductionsDepreciationofTangibleBusinessAssetsBookandTaxConceptsofDepreciationModifiedAcceleratedCostRecoverySystem(MACRS)PropertyAcquisitions
andCostRecoveryDeductionsDepreciationofTangibleBusinessAssetsTheMACRSFrameworkRecoveryPeriodsPropertyAcquisitions
andCostRecoveryDeductionsMACRSRecoveryPeriodAssetsIncluded3yearsSmallmanufacturingtools,racehorsesandbreedinghogs,specialhandlingdevicesusedinfoodmanufacturing5yearsCars,trucks,buses,helicopters,computers,typewriters,duplicatingequipment,breedinganddairycattle,andcargocontainers7yearsOfficefurnitureandfixtures,railroadcarsandlocomotives,mostmachineryandequipment10yearsSingle-purposeagriculturalandhorticulturalstructures,assetsusedinpetroleumrefining,vessels,barges,andotherwatertransportationequipment,fruit-ornut-bearingtreesandvines.15yearsLandimprovementssuchasfencing,roads,sidewalks,bridges,irrigationsystems,andlandscaping;telephonedistributionplants;pipelines;billboards;andservicestationbuildings20yearsCertainfarmbuildings25yearsCommercialwaterutilityproperty,municipalsewers27.5yearsResidentialrentalrealproperty(duplexesandapartments)39yearsNonresidentialrealproperty(officebuildings,factories,andwarehouses)50yearsRailroadgradingortunnelborePropertyAcquisitions
andCostRecoveryDeductionsDepreciationofTangibleBusinessAssetsTheMACRSFrameworkDepreciationMethodsDepreciationConventionsIRSDepreciationTablesPropertyAcquisitions
andCostRecoveryDeductionsYearRecoveryPeriod3-Year5-Year7-Year10-Year15-Year20-YearDepreciationRate133.33％20.00％14.29％10.00％5.00％3.750％244.4532.0024.4918.009.507.219314.8119.2017.4914.408.556.67747.4111.5212.4911.527.706.177511.528.939.226.935.71365.768.927.376.235.28578.936.555.904.88884.466.555.904.52296.565.914.462106.555.904.461113.285.914.462125.904.461135.914.462142.954.461154.462164.461174.462184.461194.462204.461212.231MACRSforBusinessPersonalty(Half-YearConvention)PropertyAcquisitions
andCostRecoveryDeductionsMACRSTablesYearInitialBasisTablePercentageMACRSDepreciation138,00020.00％7,600238,00032.0012,160338,00019.207,296438,00011.524,378538,00011.524,378638,0005.762,18838,000PropertyAcquisitions
andCostRecoveryDeductionsYearMonthPlacedinService123456789101112DepreciationRate（％）13.4853.1822.8792.5762.2731.9701.6671.3641.0610.7580.4550.1522-273.6363.6363.6363.6363.6363.6363.6363.6363.6363.6363.6363.636281.9702.2732.5762.8793.1823.4583.4583.6363.6363.6363.6363.636290.0000.0000.0000.0000.0000.0000.1520.4550.7581.0611.3641.667MACRSforResidentialRealProperty(27.5-yearproperty)PropertyAcquisitions
andCostRecoveryDeductionsMACRSforNonresidentialRealProperty(39-yearproperty)YearMonthPlacedinService123456789101112DepreciationRate（％）12.4612.2472.0331.8191.6051.3911.1770.9630.7490.5350.3210.1072-392.5642.5642.5642.5642.5642.5642.5642.5642.5642.5642.5642.5644001070.3210.5350.7490.9631.1771.3911.6051.8192.0332.2472.461PropertyAcquisitions
andCostRecoveryDeductionsDepreciationofTangibleBusinessAssetsTheMACRSFrameworkMACRSandFMVPropertyAcquisitions
andCostRecoveryDeductionsDepreciationofTangibleBusinessAssetsLimitedDepreciationforPassengerAutomobilesSection179ExpensingElectionPurchaseversusLeasingDecisionPropertyAcquisitions
andCostRecoveryDeductionsAmortizationofIntangibleAssetsOrganizationalandStart-UpCosts
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