depreciable property

(B)For purposes of this section, the term “depreciable property” means any property of a character subject to the allowance for depreciation, but only if a basis reduction under subsection (a) will reduce the amount of depreciation or amortization which otherwise would be allowable for the period immediately following such reduction. (C)For purposes of this section, any interest of a partner in a partnership shall be treated as depreciable property to the extent of such partner’s proportionate interest in the depreciable property held by such partnership. The preceding sentence shall apply only if there is a corresponding reduction in the partnership’s basis in depreciable property with respect to such partner. (D)For purposes of this section, if— (i)a corporation holds stock in another corporation (hereinafter in this subparagraph referred to as the “subsidiary”), and (ii)such corporations are members of the same affiliated group which file a consolidated return underfor the taxable year in which the discharge occurs, (E)

Source

26 USC § 1017(b)(3)(B)


Scoping language

For purposes of this section
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