Don Farmer's Repair Regulations in Practice: Capitalization vs. Expense

Overview

This course examines the tangible property regulations with a focus on distinguishing deductible repairs from capital improvements. Participants will analyze unit of property rules, betterment, restoration, and adaptation standards, and available safe harbors. Practical examples demonstrate how to apply the regulations in examinations and planning contexts.

Highlights

• Overview of Tangible Property Regulations • Unit of Property Rules • Repair vs. Capital Improvements • Betterment, Restoration, and Adaptation Standards • Safe Harbors and Elections • Examination and Audit Risk Considerations

Designed For

Tax Professionals

Objectives

1. Apply the unit of property rules to real estate and equipment 2. Distinguish repairs from capital improvements 3. Analyze betterment, restoration, and adaptation standards 4. Utilize available safe harbors and elections 5. Identify audit risk areas related to repair regulations