Time of acquisition.
Time of acquisition. Under this paragraph (m) the time of acquisition is
(i) The date the taxpayer enters into a binding contract to acquire the property or
(ii) For property constructed, reconstructed, or erected by the taxpayer, (A) the earlier of the date it begins construction, reconstruction, or erection of the property, or (B) the date the taxpayer and another person enter into a binding contract requiring each to construct, reconstruct, or erect property and place the property in service for an agreed upon use. See example under paragraph (m)(4) of this section.