TITLE

A question of repairs: Capitalize or deduct

AUTHOR(S)
DITTMER, GARY
PUB. DATE
November 2013
SOURCE
Disclosures;Nov/Dec2013, Vol. 26 Issue 6, p22
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the controversial issue of capitalization versus deduction between taxpayers and the U.S. Internal Revenue Service (IRS). Particular focus is given to the regulations proposed by the IRS to make the issue less contentious and simplify the rules. Details relating to whether to deduct or capitalize the amounts paid for repairs to real or tangible personal property (TPP) are presented. It also discusses treatment of materials and supplies in accordance with the regulations.
ACCESSION #
91956759

 

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