§ 42(d)(2)(B)

building meets subparagraph requirements

UNDECIDED

0 of 3 settled

  1. 1

    § 42(d)(2)(B)

    ALL OF

    A building meets the requirements of this subparagraph if—

    “the building is acquired by purchase (as defined in section 179(d)(2)),” § 42(d)(2)(B)(i) needs Step 3 a purchase UNDECIDED
    “there is a period of at least 10 years between the date of its acquisition by the taxpayer and the date the building was last placed in service,” § 42(d)(2)(B)(ii)

    Step 2 10-year period requirement met UNDECIDED

    “the building was not previously placed in service by the taxpayer or by any person who was a related person with respect to the taxpayer as of the time previously placed in service, and” § 42(d)(2)(B)(iii)
    “except as provided in subsection (f)(5), a credit is allowable under subsection (a) by reason of subsection (e) with respect to the building.” § 42(d)(2)(B)(iv)
  2. 2

    § 42(d)(2)(B)(ii)

    10-year period requirement met

    ALL OF
    “there is a period of at least 10 years between the date of its acquisition by the taxpayer and the date the building was last placed in service”
  3. 3

    § 179(d)(2)

    a purchase

    ALL OF

    For purposes of paragraph (1), the term “purchase” means any acquisition of property, but only if—

    “any acquisition of property, but” Opening words
    “the property is not acquired from a person whose relationship to the person acquiring it would result in the disallowance of losses under section 267 or 707(b) (but, in applying section 267(b) and (c) for purposes of this section, paragraph (4) of section 267(c) shall be treated as providing that the family of an individual shall include only his spouse, ancestors, and lineal descendants),” § 179(d)(2)(A)
    “the property is not acquired by one component member of a controlled group from another component member of the same controlled group, and” § 179(d)(2)(B)
    “the basis of the property in the hands of the person acquiring it is not determined— in whole or in part by reference to the adjusted basis of such property in the hands of the person from whom acquired, or under section 1014(a) (relating to property acquired from a decedent).” § 179(d)(2)(C)