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California Code, Revenue and Taxation Code - RTC § 24442

Current as of January 01, 2025 | Updated by Findlaw Staff

In the case of the demolition of any structure--

(1) No deduction otherwise allowable under this part shall be allowed to the owner or lessee of such structure for--

(A) Any amount expended for such demolition, or

(B) Any loss sustained on account of such demolition;  and

(2) Amounts described in paragraph (1) shall be treated as property chargeable to capital account with respect to the land on which the demolished structure was located.

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Cite this article: FindLaw.com - California Code, Revenue and Taxation Code - RTC § 24442 - last updated January 01, 2025 | https://codes.findlaw.com/ca/revenue-and-taxation-code/rtc-sect-24442/

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