Part I. Rulings and Decisions Under the Internal Revenue Code of 1986
Internal Revenue Bulletin 1997-25 · 2026-10-03 edition · updated 2026-10-04 · United States
Section 168.—Accelerated Cost Recovery System
May a taxpayer make a general asset account election in the current taxable year for depreciable property placed in service in a prior taxable year? See Rev. Proc. 97–30, page 20.
26 CFR 1.168(i)–1: General asset accounts.
May a taxpayer make a general asset account election in the current taxable year for depreciable property placed in service in a prior taxable year? See Rev. Proc. 97–30, page 20.
Section 446.—General Rule for Methods of Accounting
If a taxpayer makes a general asset account election in the current taxable year for depreciable property placed in service in a prior taxable year, is this election a change in method of accounting? See Rev. Proc. 97–30, page 20.
26 CFR 1.446–1: General rule for methods of accounting.
If a taxpayer makes a general asset account election in the current taxable year for depreciable
property placed in service in a prior taxable year, is this election a change in method of accounting? See Rev. Proc. 97–30, page 20.
Section 481.—Adjustments Required by Changes in Method of Accounting
If a taxpayer makes a general asset account election in the current taxable year for depreciable property placed in service in a prior taxable year, does this change in method of accounting require an adjustment under §§ 481(a)? See Rev. Proc. 97–30, page 20.
June 23, 1997 4 1997–25 I.R.B.
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