Placed in service.

Placed in service. The term placed in service means the time that property is first placed by the taxpayer in a condition or state of readiness and availability for a specifically assigned function, whether for use in a trade or business, for the production of income, in a tax-exempt activity, or in a personal activity. See 1.463(d)(2) for examples regarding when property shall be considered in a condition or state of readiness and availability for a specifically assigned function.
The termplaced in servicemeans the time that property is first placed by the taxpayer in a condition or state of readiness and availability for a specifically assigned function, whether for use in a trade or business, for the production of income, in a tax-exempt activity, or in a personal activity. See 1.463(d)(2) for examples regarding when property shall be considered in a condition or state of readiness and availability for a specifically assigned function.

Source

26 CFR § 1.179-4


Scoping language

None
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