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District of Columbia Code Division VIII. General Laws. § 47-1811.04. Bases--Determination of depreciation deduction.

Current as of January 01, 2024 | Updated by Findlaw Staff

The basis used in determining the amount allowable as a deduction from gross income under the provisions of § 47-1803.03(a)(7) and (b-3) shall be the same basis as that provided for determining the gain from the sale or other disposition of property for federal income tax purposes under the Internal Revenue Code of 1986; provided, that no adjustment shall be made for:

(1) The amount of the special depreciation allowance under section 168(k) of the Internal Revenue Code of 1986; and

(2) The amount of the cost of property elected to be treated as chargeable to capital account under section 179 of the Internal Revenue Code of 1986 in excess of the lesser of $25,000 ($40,000 in the case of a Qualified High Technology Company) or the actual cost of such property.

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Cite this article: FindLaw.com - District of Columbia Code Division VIII. General Laws. § 47-1811.04. Bases--Determination of depreciation deduction. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-viii-general-laws/dc-code-sect-47-1811-04/

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