For inflation adjustment of certain items in this section, see Revenue Procedures listed in a table below.
2017—Subsec. (a)(1)(A)(i). Pub. L. 115–97, § 13202(a)(1)(A), substituted “$10,000” for “$2,560”.
Subsec. (a)(1)(A)(ii). Pub. L. 115–97, § 13202(a)(1)(B), substituted “$16,000” for “$4,100”.
Subsec. (a)(1)(A)(iii). Pub. L. 115–97, § 13202(a)(1)(C), substituted “$9,600” for “$2,450”.
Subsec. (a)(1)(A)(iv). Pub. L. 115–97, § 13202(a)(1)(D), substituted “$5,760” for “$1,475”.
Subsec. (a)(1)(B)(ii). Pub. L. 115–97, § 13202(a)(2)(A), substituted “$5,760” for “$1,475” in heading and text.
Subsec. (d)(4)(A)(iv), (v). Pub. L. 115–97, § 13202(b)(1), redesignated cl. (v) as (iv) and struck out former cl. (iv) which read as follows: “any computer or peripheral equipment (as defined in section 168(i)(2)(B)), ‘and’ ”.
Subsec. (d)(4)(B), (C). Pub. L. 115–97, § 13202(b)(2), redesignated subpar. (C) as (B) and struck out former subpar. (B). Prior to amendment, text of subpar. (B) read as follows: “The term ‘listed property’ shall not include any computer or peripheral equipment (as so defined) used exclusively at a regular business establishment and owned or leased by the person operating such establishment. For purposes of the preceding sentence, any portion of a dwelling unit shall be treated as a regular business establishment if (and only if) the requirements of section 280A(c)(1) are met with respect to such portion.”
Subsec. (d)(7)(A). Pub. L. 115–97, § 13202(a)(2)(B)(i), substituted “2018” for “1988”.
Subsec. (d)(7)(B). Pub. L. 115–97, § 11002(d)(8), amended subpar. (B) generally. Prior to amendment, subpar. (B) related to automobile price inflation adjustment.
Subsec. (d)(7)(B)(i)(II). Pub. L. 115–97, § 13202(a)(2)(B)(ii), substituted “2017” for “1987”.
2014—Subsec. (a)(1)(C). Pub. L. 113–295, § 221(a)(34)(E), struck out subpar. (C) which related to special rules for certain automobiles modified to be propelled by a clean burning fuel and for purpose built passenger vehicles that were placed in service between
Subsec. (d)(8), (10). Pub. L. 113–295, § 220(j), substituted “subsection (a)(1)” for “subsection (a)(2)”.
2010—Subsec. (d)(4)(A). Pub. L. 111–240 inserted “ ‘and’ ” at end of clause (iv), redesignated clause (vi) as (v), and struck out former cl. (v) which read as follows: “any cellular telephone (or other similar telecommunications equipment), and”.
2002—Subsec. (a)(1)(C)(iii). Pub. L. 107–147 added cl. (iii).
1998—Subsec. (a)(1)(C)(ii). Pub. L. 105–206 substituted “subparagraphs (A) and (B)” for “subparagraph (A)”.
1997—Subsec. (a)(1)(C). Pub. L. 105–34 added subpar. (C).
1996—Subsec. (a). Pub. L. 104–188 struck out “investment tax credit and” after “amount of” in heading.
1990—Pub. L. 101–508, § 11813(b)(13)(E), struck out “investment tax credit and” after “Limitation on” in section catchline.
Subsec. (a)(1). Pub. L. 101–508, § 11813(b)(13)(A)(i), redesignated par. (2) as (1) and struck out former par. (1) “Investment tax credit” which read as follows: “The amount of the credit determined under section 46(a) for any passenger automobile shall not exceed $675.”
Subsec. (a)(2). Pub. L. 101–508, § 11813(b)(13)(A)(i), redesignated par. (3) as (2). Former par. (2) redesignated (1).
Subsec. (a)(2)(B). Pub. L. 101–508, § 11813(b)(13)(A)(ii), struck out “the credit determined under section 46(a) or” after “the amount of”.
Subsec. (a)(3). Pub. L. 101–508, § 11813(b)(13)(A)(i), redesignated par. (3) as (2).
Subsec. (a)(4). Pub. L. 101–508, § 11813(b)(13)(A)(i), struck out par. (4) “Special rule where election of reduced credit in lieu of the basis adjustment” which read as follows: “In the case of any election under section 48(q)(4) with respect to any passenger automobile, the limitation of paragraph (1) applicable to such passenger automobile shall be ⅔ of the amount which would be so applicable but for this paragraph.”
Subsec. (b). Pub. L. 101–508, § 11813(b)(13)(B), redesignated pars. (2) to (4) as (1) to (3), respectively, and struck out former par. (1) “Investment tax credit” which read as follows: “For purposes of this subtitle, any listed property shall not be treated as section 38 property for any taxable year unless such property is predominantly used in a qualified business use for such taxable year.”
Subsec. (c)(1). Pub. L. 101–508, § 11813(b)(13)(C), struck out “credits and” after “Lessor’s” in heading.
Subsec. (d)(3)(A). Pub. L. 101–508, § 11813(b)(13)(D), struck out “the amount of any credit allowable under section 38 to the employee or” after “of determining”.
1989—Subsec. (d)(4)(A)(v), (vi). Pub. L. 101–239 added cl. (v) and redesignated former cl. (v) as (vi).
1988—Subsec. (b)(3)(B)(i). Pub. L. 100–647, § 1018(u)(3), substituted “depreciation deductions” for “recovery deductions”.
Subsec. (d)(1). Pub. L. 100–647, § 1002(b)(2), substituted “subsections (a) and (b), and the limitation of paragraph (3) of this subsection,” for “subsections (a) and (b)”.
Subsec. (d)(3)(A). Pub. L. 100–647, § 1002(a)(10), substituted “depreciation deduction” for “recovery deduction”.
1986—Subsec. (a)(2)(A). Pub. L. 99–514, § 201(d)(4)(A)(i), (K), substituted “depreciation deduction” for “recovery deduction” in introductory provisions and substituted cls. (i) to (iv) for former cls. (i) and (ii) which read as follows:
“(i) $3,200 for the first taxable year in the recovery period, and
“(ii) $4,800 for each succeeding taxable year in the recovery period.”
Subsec. (a)(2)(B). Pub. L. 99–514, § 201(d)(4)(A)(ii), (K), substituted “$1,475” for “$4,800” in heading and text of cl. (ii), and “depreciation deduction” for “recovery deduction” in heading and text of cl. (iv).
Subsec. (a)(3)(B). Pub. L. 99–514, § 201(d)(4)(K), substituted “depreciation deduction” for “recovery deduction” in two places.
Subsec. (b)(2). Pub. L. 99–514, § 201(d)(4)(J), substituted “section 168(g) (relating to alternative depreciation system)” for “the straight line method over the earnings and profits life for such property”.
Subsec. (b)(3)(A). Pub. L. 99–514, § 201(d)(4)(B), (K), substituted “depreciation deduction” for “recovery deduction” and “section 168(g) (relating to alternative depreciation system)” for “the straight line method over the earnings and profits life” in closing provisions.
Subsec. (b)(4). Pub. L. 99–514, § 201(d)(4)(C), in amending par. (4) generally, struck out heading “Definitions”, redesignated as par. (4) former subpar. (A) heading and text, substituted “For purposes of this section, property” for “Property”, and struck out former subpar. (B) definition of straight line method over earnings and profits life.
Subsec. (c)(4). Pub. L. 99–514, § 201(d)(4)(D), substituted “section 168(i)(3)(A)” for “section 168(j)(6)(B)”.
Subsec. (d)(1). Pub. L. 99–514, § 201(d)(4)(E), substituted “depreciation deduction” for “recovery deduction”.
Subsec. (d)(2). Pub. L. 99–514, § 1812(e)(5), substituted “is use described in” for “is not use described in”.
Pub. L. 99–514, § 201(d)(4)(F), substituted “depreciation deduction” for “recovery deduction” and “use in a trade or business (including the holding for the production of income)” for “use described in section 168(c)(1) (defining recovery property)”.
Subsec. (d)(3)(A). Pub. L. 99–514, § 1812(e)(2), inserted “(or the amount of any deduction allowable to the employee for rentals or other payments under a lease of listed property)”.
Subsec. (d)(4)(A)(iv). Pub. L. 99–514, § 201(d)(4)(G), substituted “section 168(i)(2)(B)” for “section 168(j)(5)(D)”.
Subsec. (d)(4)(B). Pub. L. 99–514, § 1812(e)(3), inserted “and owned or leased by the person operating such establishment”.
Subsec. (d)(4)(C). Pub. L. 99–514, § 1812(e)(4), added subpar. (C).
Subsec. (d)(5)(A). Pub. L. 99–514, § 1812(e)(1)(A), (C), substituted “unloaded gross vehicle weight” for “gross vehicle weight” in cl. (ii) and inserted at end “In the case of a truck or van, clause (ii) shall be applied by substituting ‘gross vehicle weight’ for ‘unloaded gross vehicle weight’.”
Subsec. (d)(8). Pub. L. 99–514, § 201(d)(4)(H), amended par. (8) generally. Prior to amendment, par. (8) read as follows: “For purposes of subsection (a)(2), the term “unrecovered basis” means the excess (if any) of—
“(A) the unadjusted basis (as defined in section 168(d)(1)(A)) of the passenger automobile, over
“(B) the amount of the recovery deductions which would have been allowable for taxable years in the recovery period determined after the application of subsection (a) and as if all use during the recovery period were use described in section 168(c)(1).”
Subsec. (d)(10). Pub. L. 99–514, § 201(d)(4)(I), struck out “, notwithstanding any regulations prescribed under section 168(f)(7),” after “For purposes of subsection (a)(2)”.
1985—Subsec. (a)(1). Pub. L. 99–44, § 4(a)(1), substituted “$675” for “$1,000”.
Subsec. (a)(2)(A)(i). Pub. L. 99–44, § 4(a)(2)(A), substituted “$3,200” for “$4,000”.
Subsec. (a)(2)(A)(ii), (B)(ii). Pub. L. 99–44, § 4(a)(2)(B), substituted “$4,800” for “$6,000” wherever appearing in text and heading.
Subsec. (d)(7)(A). Pub. L. 99–44, § 4(b)(1), inserted “placed in service after 1988” after “passenger automobile”.
Subsec. (d)(7)(B)(i). Pub. L. 99–44, § 4(b)(3), struck out last sentence which directed that in the case of calendar year 1984, the automobile price inflation adjustment would be zero.
Subsec. (d)(7)(B)(i)(II). Pub. L. 99–44, § 4(b)(2), substituted “1987” for “1983”.
Amendment by section 11002(d)(8) of Pub. L. 115–97 applicable to taxable years beginning after
Pub. L. 115–97, title I, § 13202(c),
Amendment by section 221(a)(34)(E) of Pub. L. 113–295 effective
Pub. L. 111–240, title II, § 2043(b),
Pub. L. 107–147, title VI, § 602(c),
Amendment by Pub. L. 105–206 effective, except as otherwise provided, as if included in the provisions of the Taxpayer Relief Act of 1997, Pub. L. 105–34, to which such amendment relates, see section 6024 of Pub. L. 105–206, set out as a note under section 1 of this title.
Pub. L. 105–34, title IX, § 971(b),
Amendment by Pub. L. 104–188 effective, except as otherwise expressly provided, as if included in the provision of the Revenue Reconciliation Act of 1990, Pub. L. 101–508, title XI, to which such amendment relates, see section 1702(i) of Pub. L. 104–188, set out as a note under section 38 of this title.
Amendment by Pub. L. 101–508 applicable to property placed in service after
Pub. L. 101–239, title VII, § 7643(b),
Amendment by Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
Amendment by section 201(d)(4) of Pub. L. 99–514 applicable to property placed in service after
Amendment by section 201(d)(4) of Pub. L. 99–514 not applicable to any property placed in service before
Amendment by section 1812(e)(1)(A), (C), (2)–(5) of Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
Pub. L. 99–44, § 6(e), “(1) Except as provided in paragraph (2), the amendments made by section 4 [amending this section] shall apply to—“(A) property placed in service after “(B) property leased after “(2) The amendments made by section 4 [amending this section] shall not apply to any property—“(A) acquired by the taxpayer pursuant to a binding contract in effect on “(B) of which the taxpayer is the lessee, but only if the lease is pursuant to a binding contract in effect on
Pub. L. 98–369, div. A, title I, § 179(d), “(1) “(A) Except as provided in subparagraph (B), the amendments made by subsections (a) and (c) [enacting this section] shall apply to—“(i) property placed in service after “(ii) property leased after “(B) The amendments made by subsections (a) and (c) shall not apply to any property—“(i) acquired by the taxpayer pursuant to a binding contract in effect on “(ii) of which the taxpayer is the lessee but only if the lease is pursuant to a binding contract in effect on For purposes of the preceding sentence, the term ‘15-year real property’ includes 18-year real property.“(2) The amendments made by subsection (b) [amending sections 274, 6653, and 6695 of this title] shall apply to taxable years beginning after
For provisions that nothing in amendment by Pub. L. 101–508 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to
For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after
Provisions relating to inflation adjustment of items in this section for certain years were contained in the following:
2023—Revenue Procedure 2023–14.
2022—Revenue Procedure 2022–17.
2021—Revenue Procedure 2021–31.
2020—Revenue Procedure 2020–37.
2019—Revenue Procedure 2019–26.
2018—Revenue Procedure 2018–25.
2017—Revenue Procedure 2017–29.
2016—Revenue Procedure 2016–23.
2015—Revenue Procedure 2015–19.
2014—Revenue Procedure 2014–21.
2013—Revenue Procedure 2013–21.
2012—Revenue Procedure 2012–23.
2011—Revenue Procedure 2011–21.
2010—Revenue Procedure 2010–18.
2009—Revenue Procedure 2009–24.
2008—Revenue Procedure 2008–22.
2007—Revenue Procedure 2007–30.
2006—Revenue Procedure 2006–18.
2005—Revenue Procedure 2005–13.
2004—Revenue Procedure 2004–20.
2003—Revenue Procedure 2003–75.
2002—Revenue Procedure 2002–14.
2001—Revenue Procedure 2001–19.
2000—Revenue Procedure 2000–18.
1999—Revenue Procedure 99–14.
1998—Revenue Procedures 98–24 and 98–30.
1997—Revenue Procedure 97–20.
1996—Revenue Procedure 96–25.