Election out of 50% Special Depreciation
Under IRC Sec. 168(k)(2)(C)(iii), taxpayer hereby elects to not claim the special depreciation allowance for the following asset classes placed in service after May 5, 2005.
7-year property (to elect out of just one class, 7-year in this case)
All eligible classes of property (to elect out for all property)
Election to Claim 30% And Not 50% Special Depreciation Allowance
Under IRC Sec. 168(k)(4)(E), taxpayer hereby elects to claim the 30% and not the 50% special depreciation allowance for the following asset classes placed in service after May 5, 2005.
7-year property (to elect 30% additional depreciation on just one class, 7-year in this case)
All eligible classes of property (to elect out for all property)
Election out of 30% Special Depreciation
Under IRC Sec. 168(k)(2)(C)(iii), as added by the Job Creation and Worker's Assistance Act of 2002, taxpayer hereby elects to not claim the special depreciation allowance for the following asset classes placed in service after September 10, 2001.
7-year property (to elect out of just one class, 7-year in this case)
All eligible classes of property (to elect out for all property)
Copyright 2003 by A/N Group, Inc. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional should be sought. The information is not necessarily a complete summary of all materials on the subject.--ISSN 1089-1536
--Last update 07/07/03