Federal Tax

Uniform Capitalization Rules: Inventory; Self-Constructed Assets; Real Estate (Portfolio 576)

  • This Portfolio analyzes the cost capitalization rules applicable to manufactured inventories, inventories of wholesalers and retailers, self-constructed assets, and for-sale property.

Description

Bloomberg Tax Portfolio, Uniform Capitalization Rules: Inventory; Self-Constructed Assets; Real Estate, analyzes the cost capitalization rules applicable to manufactured inventories, inventories of wholesalers and retailers, self-constructed assets, and real property produced for sale.

The 1986 Tax Reform Act overhauled these costing rules, essentially creating a uniform set of rules. Costs related to a particular category of produced or acquired property must be associated with that property and deducted either when the property is sold or through depreciation deductions.

The Worksheets include certain relevant IRS pronouncements and related materials, such as legislative history and checklists. To aid in researching a particular matter, a Bibliography is provided.

Table of Contents

I. Introduction
II. Manufacturers
III. Retailers and Wholesalers
IV. Self-Constructed Assets
V. Real Property Produced for Sale

Richard Garrett
Richard Garrett
Internal Revenue Service
James Connor
James Connor
Partner (Retired)
PricewaterhouseCoopers LLP
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