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Capitalization & Depreciation

Treatment of Capitalized Costs of Intangible Assets (Part II)

Executive Summary This two-part article provides an overview of cost recovery for intangible asset expenditures. Part II covers the income- forecast and units-of-production methods, computer software, transaction costs and Sec. 195 deductions. This two-part article examines how capitalized costs of intangible assets are recovered. Part I, in the April 2007

Depreciation Method Changes

Editor: Terence E. Kelly, CPA The IRS recently released final, temporary and proposed regulations specifying when changes in depreciation and amortization will be considered accounting-method changes under Sec. 446 (TD 9307, 12/22/06). The rules also reflect the Service’s attempt to provide more consistent treatment and increased certainty for taxpayers on

Depreciating MACRS Property in Tax-Free Exchanges

Final regulations (TD 9314, 2/26/07) explain how to depreciate certain property acquired in a like-kind exchange under Sec. 1031. The rules address how to determine annual depreciation allowances using the modified accelerated cost recovery system (MACRS) under Sec. 168 for replacement property acquired in a like-kind exchange. The guidance also

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