SECTION 3. SCOPE AND
Internal Revenue Bulletin 1996-8 · 2026-10-03 edition · updated 2026-10-04 · United States
OBJECTIVE
The limitations on depreciation deductions in section 4.02 of this revenue procedure apply to automobiles (other than leased automobiles) that are placed in service in calendar year 1996 and continue to apply for each tax year that the automobile remains in service.
The table in section 4.03 of this revenue procedure applies to leased automobiles for which the lease term begins in calendar year 1996. Lessees of such automobiles must use this table to determine the inclusion amount for each tax year during which the auto
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mobile is leased. See §§ 1.280F–5T(d) and 1.280F–5T(e) of the temporary Income Tax Regulations, § 1.280F– 7(a), Rev. Proc. 89–64, 1989–2 C.B. 783, Rev. Proc. 90–22, 1990–1 C.B. 504, Rev. Proc. 91–30, 1991–1 C.B. 563, Rev. Proc. 92–43, 1992–1 C.B. 873, Rev. Proc 93–35, 1993–2 C.B. 472, Rev. Proc 94–53, 1994–2 C.B. 712, and Rev. Proc. 95–9, 1995–1 C.B. 498, to determine inclusion amounts for automobiles first leased before January 1, 1996.
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