Short tax year depreciation and subsidiaries.: An article from: The Tax Adviser

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Product Description
This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on October 1, 1997. The length of the article is 611 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The US 4th Circuit Court of Appeals stated in Jack Kent Cooke, Inc. that taxpayers are bound by the tax consequences of the business structure they elect, even if those consequences are negative. A year-end asset purchase concomitant, with a stock purchase creating a wholly owned subsidiary, did not result in a full year of depreciation on the asset purchaser-parent’s consolidated return. This was because the owner did not place the asset in service for most of the taxable year.

Citation Details
Title: Short tax year depreciation and subsidiaries.
Author: Geoffrey W. Campbell
Publication: The Tax Adviser (Magazine/Journal)
Date: October 1, 1997
Publisher: American Institute of CPA’s
Volume: 28 Issue: n10 Page: 622(1)

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