Ezel / IRS Rulings / 201303015

Revoking an election not to claim bonus depreciation requires consent

Number
201303015
Outcome
Advice
Document type
Chief Counsel Advice
IRS subject
Additional First Year Depreciation
Topics
Income and deductions
Code sections
§ 168
Ruling dated
December 13, 2012
Publicly released
January 18, 2013
Source
View Official PDF

Apply this to your situation

This page covers legal advice the IRS Office of Chief Counsel wrote for IRS staff, issued in 2013, which can't be cited as precedent. Ask about your situation and see what the current Code and IRS guidance say, with citations.

Currency note: this determination was released in 2013
Statutory amendments, regulation changes, court decisions, or later IRS guidance may have changed the analysis since then. Treat this page as historical context, not current tax advice. Verify current law before relying on any specific rule, threshold, or position mentioned here.
Not precedent. Under 26 U.S.C. § 6110(k)(3), this written determination may not be used or cited as precedent. It is advice from the IRS Office of Chief Counsel to IRS personnel on the facts they presented, and identifying details were redacted by the IRS before release. The official IRS release (linked on this page as a PDF) is the authoritative source.
About this page: The plain-English summary and ruling snapshot below were written by Ezel based on the official IRS release. The full text is the IRS's own document.
View official IRS release (PDF)

Plain-English summary

Chief Counsel advised that the bonus depreciation regulations specifically govern revocation of an election not to deduct bonus depreciation. A taxpayer seeking to revoke that election must obtain the written consent of the Commissioner. The taxpayer must request that consent through a letter ruling request.

Ruling snapshot

  • Question: What must a taxpayer do to revoke an election not to deduct bonus depreciation?
  • Outcome: Advice given.
  • Key authorities: IRC § 168; Treas. Reg. § 1.168(k)-1(e)(7)(i).

Full text (IRS public release)

ID: CCA_2012121308320557 Number: 201303015
Release Date: 1/18/2013
Office: -------------
UILC: 168.36-00

From: -----------------
Sent: Thursday, December 13, 2012 8:32:14 AM
To: ---------------------
Cc:
Subject: RE: RP 2011-26 language

Hi -------The bonus depreciation regulations are very specific. If a taxpayer wants to revoke an election not to deduct bonus depreciation, the taxpayer must obtain the written consent of the Commissioner and, to seek this consent, the taxpayer must submit a letter ruling request. Section 1.168(k)-1(e)(7)(i).

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