1.168(i)-0—Table of contents for the general asset account rules.
This section lists the major paragraphs contained in § 1.168(i)-1.
§ 1.168(i)-1General asset accounts.
(a) Scope.
(b) Definitions.
(1) Unadjusted depreciable basis.
(2) Unadjusted depreciable basis of the general asset account.
(3) Adjusted depreciable basis of the general asset account.
(4) Expensed cost.
(c) Establishment of general asset accounts.
(1) Assets eligible for general asset accounts.
(i) General rules.
(ii) Special rules for assets generating foreign source income.
(2) Grouping assets in general asset accounts.
(i) General rules.
(ii) Special rules.
(d) Determination of depreciation allowance.
(1) In general.
(2) Special rule for passenger automobiles.
(e) Disposition of an asset from a general asset account.
(1) Scope.
(2) General rules for a disposition.
(i) No immediate recovery of basis.
(ii) Treatment of amount realized.
(iii) Effect of disposition on a general asset account.
(iv) Coordination with nonrecognition provisions.
(v) Examples.
(3) Special rules.
(i) In general.
(ii) Disposition of all assets remaining in a general asset account.
(iii) Disposition of an asset in a qualifying disposition.
(iv) Transactions subject to section 168(i)(7).
(v) Transactions subject to section 1031 or 1033.
(vi) Anti-abuse rule.
(f) Assets generating foreign source income.
(1) In general.
(2) Source of ordinary income, gain, or loss.
(i) Source determined by allocation and apportionment of depreciation allowed.
(ii) Formula for determining foreign source income, gain, or loss.
(3) Section 904(d) separate categories.
(g) Assets subject to recapture.
(h) Changes in use.
(1) Conversion to personal use.
(2) Change in use results in a different recovery period and/or depreciation method.
(i) No effect on general asset account election.
(ii) Asset is removed from the general asset account.
(iii) New general asset account is established.
(i) Identification of disposed or converted asset.
(j) Effect of adjustments on prior dispositions.
(k) Election.
(1) Irrevocable election.
(2) Time for making election.
(3) Manner of making election.
(l) Effective date.
(1) In general.
(2) Exceptions.
(3) Like-kind exchanges and involuntary conversions.