26 CFR 1.167(a)-2 - Tangible property.

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There are 16 Updates appearing in the Federal Register for 26 CFR 1. View below or at eCFR (GPOAccess)
§ 1.167(a)-2 Tangible property.
The depreciation allowance in the case of tangible property applies only to that part of the property which is subject to wear and tear, to decay or decline from natural causes, to exhaustion, and to obsolescence. The allowance does not apply to inventories or stock in trade, or to land apart from the improvements or physical development added to it. The allowance does not apply to natural resources which are subject to the allowance for depletion provided in section 611. No deduction for depreciation shall be allowed on automobiles or other vehicles used solely for pleasure, on a building used by the taxpayer solely as his residence, or on furniture or furnishings therein, personal effects, or clothing; but properties and costumes used exclusively in a business, such as a theatrical business, may be depreciated.

Title 26 published on 2014-04-01

The following are only the Rules published in the Federal Register after the published date of Title 26.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-07-02; vol. 79 # 127 - Wednesday, July 2, 2014
    1. 79 FR 37630 - Guidelines for the Streamlined Process of Applying for Recognition of Section 501(c)(3) Status
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Internal Revenue Service
      Final and temporary regulations.
      Effective date: These regulations are effective on July 1, 2014. Applicability date: For dates of applicability, see §§ 1.501(a)-1T(f)(1), 1.501(c)(3)-1T(h)(1), 1.508-1T(c)(1).
      26 CFR Part 1

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United States Code
USC: Title 26a
U.S. Code: Title 29 - LABOR
Statutes at Large
Public Laws
Presidential Documents

Reorganization ... 1978 Plan No. 4

Title 26 published on 2014-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 26 CFR 1 after this date.

  • 2014-07-02; vol. 79 # 127 - Wednesday, July 2, 2014
    1. 79 FR 37630 - Guidelines for the Streamlined Process of Applying for Recognition of Section 501(c)(3) Status
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Internal Revenue Service
      Final and temporary regulations.
      Effective date: These regulations are effective on July 1, 2014. Applicability date: For dates of applicability, see §§ 1.501(a)-1T(f)(1), 1.501(c)(3)-1T(h)(1), 1.508-1T(c)(1).
      26 CFR Part 1