Conservation Tax Center Law Library

3 Case Law articles were found for Section 179 Expenses

IRS Memorandum Explaining 179 Property
The issue was whether Taxpayers are entitled to claim a deduction under § 179 with respect to a vineyard they planted in 2005 and placed in service in 2009? The IRS found tha because the vineyard constitutes § 179 property and provided Taxpayers have satisfied the limitations and other requirements under § 179, Taxpayers are entitled to elect to expense in 2009 the cost (including capital expenditures made by Taxpayers to develop the vineyard to an income-producing stage) or a portion of the cost of the vineyard.Read More »
https://www.landcan.org/ctc-article/Section-179-Expenses/Case-Law/IRS-Memorandum-Explaining-179-Property/757/

IRS Publication 946 - Electing the Section 179 Deduction
This IRS Publication chapter explains what property does and does not qualify for the section 179 deduction, what limits apply to the deduction (including special rules for partnerships and corporations), and how to elect it.Read More »
https://www.landcan.org/ctc-article/Section-179-Expenses/Case-Law/IRS-Publication-946--Electing-the-Section-179-Deduction/991/

Rev. Proc. 2008-54
This Revenue Proclamation explains that individuals can take a section 179 deduction for previous years' qualified expenses. Read More »
https://www.landcan.org/ctc-article/Section-179-Expenses/Case-Law/Rev-Proc-200854/758/

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3 Case Law articles were found for Section 179 Expenses

IRS Memorandum Explaining 179 Property

IRS Publication 946 - Electing the Section 179 Deduction

Rev. Proc. 2008-54