§59. Other definitions and special rules — Inbound Citations
26 U.S.C. § 59
Cited by 14 provisions in release 119-102.
Citations to §59(e)
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(ii) any deduction allowed for expenses under section 263(c) (including any deduction for such expenses under section 59(e) or 291(b)(2)) with respect to property described therein to the extent of the amount allowed as deductions in computing taxable income for the year, and
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(b) For election of 3-year amortization of expenditures allowable as a deduction under subsection (a), see section 59(e).
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(c) Notwithstanding subsection (a), and except as provided in subsection (i), regulations shall be prescribed by the Secretary under this subtitle corresponding to the regulations which granted the option to deduct as expenses intangible drilling and development costs in the case of oil and gas wells and which were recognized and approved by the Congress in House Concurrent Resolution 50, Seventy-ninth Congress. Such regulations shall also grant the option to deduct as expenses intangible drilling and development costs in the case of wells drilled for any geothermal deposit (as defined in section 613(e)(2)) to the same extent and in the same manner as such expenses are deductible in the case of oil and gas wells. This subsection shall not apply with respect to any costs to which any deduction is allowed under section 59(e) or 291.
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(6) Paragraphs (2) and (3) shall apply to any amount allowable as a deduction under section 59(e) for qualified expenditures described in subparagraphs (B), (C), (D), and (E) of paragraph (2) thereof.
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(e) For election of 10-year amortization of expenditures allowable as a deduction under subsection (a), see section 59(e).
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(i) For election of 10-year amortization of expenditures allowable as a deduction under this section, see section 59(e).
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(20) for amounts allowed as deductions under section 59(e) (relating to optional 10-year writeoff of certain tax preferences);
Citations to §59(e)(2)
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(6) Paragraphs (2) and (3) shall apply to any amount allowable as a deduction under section 59(e) for qualified expenditures described in subparagraphs (B), (C), (D), and (E) of paragraph (2) thereof.
Citations to §59(j)
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(iii) subsection (j) of section 59 shall not apply.
Citations to §59(k)(1)(A)
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(2) the regular tax for the taxable year plus, in the case of an applicable corporation, the tax imposed by section 59A.
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(A) In the case of an applicable corporation, the tentative minimum tax for the taxable year shall be the excess of—(i) 15 percent of the adjusted financial statement income for the taxable year (as determined under section 56A), over(ii) the corporate AMT foreign tax credit for the taxable year.
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(B) In the case of any corporation which is not an applicable corporation, the tentative minimum tax for the taxable year shall be zero.
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(e) The Secretary shall provide for such regulations and other guidance as necessary to carry out the purposes of this section, including regulations and other guidance relating to the effect of the rules of this section on partnerships with income taken into account by an applicable corporation.
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(d) In the case of a real estate investment trust (as defined in section 856), the difference between the amounts described in subparagraphs (A) and (B) of subsection (a)(1) shall be reduced to the extent that a capital gain dividend (as defined in section 857(b)(3)(C),1 applied without regard to this section) is treated as paid out of such difference. Any capital gain dividend treated as having been paid out of such difference to a shareholder which is an applicable corporation retains its character in the hands of the shareholder as gain from the disposition of section 1250 property for purposes of applying subsection (a)(1) to such shareholder.