qualified property

(6) Special rule for allocation of bonus depreciation with respect to certain property (A) In general Solely for purposes of determining the percentage of completion under subsection (b)(1)(A), the cost of qualified property shall be taken into account as a cost allocated to the contract as if subsection (k) of section 168 had not been enacted. (B) Qualified property For purposes of this paragraph, the term “qualified property” means property described in section 168(k)(2) which— (i) has a recovery period of 7 years or less, and (ii) is placed in service before January 1, 2027 ( January 1, 2028 in the case of property described in section 168(k)(2)(B) ).


26 USC § 460(c)(6)

Scoping language

For purposes of this paragraph
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