SECTION 4. DRAFTING
Internal Revenue Bulletin 2005-29 · 2026-10-03 edition · updated 2026-10-04 · United States
INFORMATION
The principal author of this revenue procedure is Nina Chowdhry of the Office of Associate Chief Counsel (International). For further information regarding this revenue procedure, contact Nina Chowdhry at (202) 622–3880 (not a toll-free call).
“(i) Qualified New York Liberty Zone leasehold improvement property . The depreciation allowable for any taxable year for qualified New York Liberty Zone leasehold improvement property (as defined in § 1400L(c)(2)) is determined by using the depreciation method and recovery period prescribed in § 1400L(c) unless the taxpayer made a timely valid election under § 1400L(c)(5) not to use that recovery period.”
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