Code of the District of Columbia

§ 47–1811.04. Bases — Determination of depreciation deduction.

The basis used in determining the amount allowable as a deduction from gross income under the provisions of § 47-1803.03(a)(7) and (b-3) shall be the same basis as that provided for determining the gain from the sale or other disposition of property for federal income tax purposes under the Internal Revenue Code of 1986; provided, that no adjustment shall be made for:

(1) The amount of the special depreciation allowance under section 168(k) of the Internal Revenue Code of 1986 [26 U.S.C. § 168(k)]; and

(2) The amount of the cost of property elected to be treated as chargeable to capital account under section 179 of the Internal Revenue Code of 1986 [26 U.S.C. § 179] in excess of the lesser of $25,000 ($40,000 in the case of a Qualified High Technology Company) or the actual cost of such property.