§616. Development expenditures — Inbound Citations
26 U.S.C. § 616
Cited by 12 provisions in release 119-102.
Citations to 26 U.S.C. § 616 as a whole
-
(A) expenditures for the development of mines or deposits deductible under section 616,
-
(10) The acquiring corporation shall be entitled to deduct, as if it were the distributor or transferor corporation, expenses deferred under section 616 (relating to certain development expenditures) if the distributor or transferor corporation has so elected.
Citations to §616(a)
-
(A) With respect to each mine or other natural deposit (other than an oil, gas, or geothermal well) of the taxpayer, the amount allowable as a deduction under section 616(a) or 617(a) (determined without regard to section 291(b)) in computing the regular tax for costs paid or incurred after December 31, 1986, shall be capitalized and amortized ratably over the 10-year period beginning with the taxable year in which the expenditures were made.
-
(D) section 616(a) (relating to development expenditures), or
-
(A) In the case of any disposition of property to which section 1254 applies (determined without regard to this section), any deduction under paragraph (1) with respect to amounts which are allocable to such property shall, for purposes of section 1254, be treated as a deduction allowable under section 263(c), 616(a), or 617(a), whichever is appropriate.
-
(2) The amount not allowable as a deduction under section 263(c), 616(a), or 617(a) (as the case may be) for any taxable year by reason of paragraph (1) shall be allowable as a deduction ratably over the 60-month period beginning with the month in which the costs are paid or incurred.
-
(3) For purposes of section 1254, any deduction under paragraph (2) shall be treated as a deduction allowable under section 263(c), 616(a), or 617(a) (whichever is appropriate).
-
(B) Any amount allowable as a deduction under section 616(a) or 617 in determining taxable income—(i) shall be capitalized, and(ii) shall be allowed as a deduction ratably over the 120-month period beginning with the later of—(I) the month in which production from the deposit begins, or(II) the month in which such amount was paid or incurred.
Citations to §616(b)
-
(9) for amounts allowed as deductions as deferred expenses under section 616(b) (relating to certain expenditures in the development of mines) and resulting in a reduction of the taxpayer’s taxes under this subtitle, but not less than the amounts allowable under such section for the taxable year and prior years;