New Depreciation Regulations and Notice 2000-4

dc.contributor.author Harl, Neil
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-19T01:12:07.000
dc.date.accessioned 2020-06-29T22:54:04Z
dc.date.available 2020-06-29T22:54:04Z
dc.date.embargo 2017-11-01
dc.date.issued 2004-03-26
dc.description.abstract <p>Issuance of Notice 2000-4<sup>1 </sup>more than four years ago was greeted by surprise and consternation by many taxpayers and practitioners alike.<sup>2 </sup>That Notice, for like-kind exchanges and involuntary conversions, discarded the established procedure of adding the undepreciated value of assets traded or otherwise relinquished to the cash boot paid to establish the income tax basis for the acquired property.<sup>3 </sup>Rather, the Notice specified that, to the extent the income tax basis of the acquired property exceeds the basis in the exchanged property, the newly-acquired property is to be treated as newly-purchased MACRS property.<sup>4 </sup>Thus, two separate depreciation deductions were needed for each item of property, one for the carryover basis with the depreciation deductions claimable over the remaining recovery period and the other for the portion of the basis attributable to the additional amount paid, which is depreciated as newly-acquired property over the recovery period for the acquired asset.<sup>5</sup></p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol15/iss7/1/
dc.identifier.articleid 1724
dc.identifier.contextkey 10982405
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol15/iss7/1
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/3200
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol15/iss7/1/AgLawDigest_v15n07_01.pdf|||Fri Jan 14 17:49:43 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title New Depreciation Regulations and Notice 2000-4
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isJournalIssueOfPublication 02897b02-77a5-4ccb-b286-bc17a2a96f0e
relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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