Treasury Regulations, Subchapter A, Sec. 1.179-2T
From TaxAlmanac
Sec. 1.179-2T Limitations on amount subject to section 179 election (temporary)
(a) [Reserved] For further guidance, see §1.179–2(a).
(b) Dollar limitation—(1) In general. The aggregate cost of section 179 property that a taxpayer may elect to expense under section 179 for any taxable year beginning in 2003 and thereafter is $25,000 ($100,000 in the case of taxable years beginning after 2002 and before 2006 under section 179(b)(1), indexed annually for inflation under section179(b)(5) for taxable years beginning after 2003 and before 2006), reduced (but not below zero) by the amount of any excess section 179 property (described in paragraph (b)(2) of this section) placed in service during the taxable year.
(b)(2) and (b)(2)(i) [Reserved] For further guidance, see §1.179–2(b)(2) and (b)(2)(i).
(ii) $200,000 ($400,000 in the case of taxable years beginning after 2002 and before 2006 under section 179(b)(2), indexed annually for inflation under section 179(b)(5) for taxable years beginning after 2003 and before 2006).
(b)(3) through (d) [Reserved] For further guidance, see §1.179–2(b)(3) through (d).
[T.D. 9146, 69 FR 46983, Aug. 4, 2004]
