Part IV. Summary

Line 22 A partnership or S corporation does not include any section 179 expense deduction (line 12) on this line. Instead, any section 179 expense deduction is passed through separately

to the partners and shareholders on the appropriate line of their Schedules K-1.

Lines 23a and 23b If you are subject to the uniform capitalization rules of section 263A, enter the increase in basis from costs you must capitalize. Complete lines 23a and 23b for assets shown in Part III that you have placed in service during the current tax year and have costs capitalized under section 263A. For a detailed discussion of who is subject to these rules, which costs must be capitalized, and allocation of costs among activities, see Regulations section 1.263A-1.

Line 23a. If you are subject to the uniform capitalization rules specifically for interest costs under section 263A(f), enter the increase in basis from interest costs you must capitalize. For a detailed discussion on interest capitalization rules, see Regulation sections 1.263A-8 through 1.263A-12.

Line 23b. If you are subject to the uniform capitalization rules specifically for interest costs under section 263A(f), enter the increase in basis from costs you must capitalize other than interest costs under section 263A(f). See Regulations section 1.263A-1. Also, see line 23a above.