Part I. Rulings and Decisions Under the Internal Revenue Code of 1986

Section 162.—Trade or Business Expenses

For purposes of determining whether the cost of replacement property may be deducted under § 162 of the Code, what units of property and major component definitions may be used by a taxpayer that has a depreciable interest in steam or electric power generation property primarily used in the trade or business

of generating or selling steam or electricity. See Rev. Proc. 2013-24, page 1142.

Section 446.—General Rule for Methods of Accounting

What are the procedural requirements for obtaining automatic consent to change to a method of ac

counting that uses all, or some of, the safe-harbor unit of property definitions provided in Rev. Proc. 2013–24 for steam or electric power generation property primarily used in the trade or business of generating or selling steam or electricity. See Rev. Proc. 2013-24, page 1142.

2013–22 I.R.B. 1136 May 28, 2013