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e-CFR data is current as of September 28, 2020

Title 26Chapter ISubchapter APart 1 → §1.179-0


Title 26: Internal Revenue
PART 1—INCOME TAXES (CONTINUED)


§1.179-0   Table of contents for section 179 expensing rules.

This section lists captioned paragraphs contained in §§1.179-1 through 1.179-6.

§1.179-1   Election to Expense Certain Depreciable Assets

(a) In general.

(b) Cost subject to expense.

(c) Proration not required.

(1) In general.

(2) Example.

(d) Partial business use.

(1) In general.

(2) Example.

(3) Additional rules that may apply.

(e) Change in use; recapture.

(1) In general.

(2) Predominant use.

(3) Basis; application with section 1245.

(4) Carryover of disallowed deduction.

(5) Example.

(f) Basis.

(1) In general.

(2) Special rules for partnerships and S corporations.

(3) Special rules with respect to trusts and estates which are partners or S corporation shareholders.

(g) Disallowance of the section 38 credit.

(h) Partnerships and S corporations.

(1) In general.

(2) Example.

(i) Leasing of section 179 property.

(1) In general.

(2) Noncorporate lessor.

(j) Application of sections 263 and 263A.

(k) Cross references.

§1.179-2   Limitations on Amount Subject to Section 179 Election

(a) In general.

(b) Dollar limitation.

(1) In general.

(2) Excess section 179 property.

(3) Application to partnerships.

(i) In general.

(ii) Example.

(iii) Partner's share of section 179 expenses.

(iv) Taxable year.

(v) Example.

(4) S corporations.

(5) Joint returns.

(i) In general.

(ii) Joint returns filed after separate returns.

(iii) Example.

(6) Married individuals filing separately.

(i) In general.

(ii) Example.

(7) Component members of a controlled group.

(i) In general.

(ii) Statement to be filed.

(iii) Revocation.

(c) Taxable income limitation.

(1) In general.

(2) Application to partnerships and partners.

(i) In general.

(ii) Taxable year.

(iii) Example.

(iv) Taxable income of a partnership.

(v) Partner's share of partnership taxable income.

(3) S corporations and S corporation shareholders.

(i) In general.

(ii) Taxable income of an S corporation.

(iii) Shareholder's share of S corporation taxable income.

(4) Taxable income of a corporation other than an S corporation.

(5) Ordering rule for certain circular problems.

(i) In general.

(ii) Example.

(6) Active conduct by the taxpayer of a trade or business.

(i) Trade or business.

(ii) Active conduct.

(iii) Example.

(iv) Employees.

(7) Joint returns.

(i) In general.

(ii) Joint returns filed after separate returns.

(8) Married individuals filing separately.

(d) Examples.

§1.179-3   Carryover of Disallowed Deduction

(a) In general.

(b) Deduction of carryover of disallowed deduction.

(1) In general.

(2) Cross references.

(c) Unused section 179 expense allowance.

(d) Example.

(e) Recordkeeping requirement and ordering rule.

(f) Dispositions and other transfers of section 179 property.

(1) In general.

(2) Recapture under section 179(d)(10).

(g) Special rules for partnerships and S corporations.

(1) In general.

(2) Basis adjustment.

(3) Dispositions and other transfers of section 179 property by a partnership or an S corporation.

(4) Example.

(h) Special rules for partners and S corporation shareholders.

(1) In general.

(2) Dispositions and other transfers of a partner's interest in a partnership or a shareholder's interest in an S corporation.

(3) Examples.

§1.179-4  Definitions

(a) Section 179 property.

(b) Section 38 property.

(c) Purchase.

(d) Cost.

(e) Placed in service.

(f) Controlled group of corporations and component member of controlled group.

§1.179-5   Time and Manner of Making Election

(a) Election.

(b) Revocation.

(c) Section 179 property placed in service by the taxpayer in a taxable year beginning after 2002 and before 2008.

(d) Election or revocation must not be made in any other manner.

§1.179-6 Effective dates.

(a) In general.

(b) Section 179 property placed in service by the taxpayer in a taxable year beginning after 2002 and before 2008.

(c) Application of §1.179-5(d).

[T.D. 8455, 57 FR 61316, Dec. 24, 1992, as amended by T.D. 9146, 69 FR 46983, Aug. 4, 2004; T.D. 9209, 70 FR 40191, July 13, 2005]

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