§13151

e apply a 31.5-year recovery period if the nonresidential real property was placed in service before May 13, 1993, and a 39-year recovery period if placed in service after May 12, 1993. See Omnibus Budget Reconciliation Act of 1993, Pub. L. 103-66, sec. 13151, 107 Stat. 448. - 13 - 1987," using a 150-percent declining-balance method first, and then a straight-line method in the·first year itn allows for a greater depreciation deduction. Sec. 168(b) (as in effect.after TRA 86). D. Building That l

13151, 107 Stat. 448, extended the recovery period for nonresidential real property from 31.5 to 39 years, generally effective for property placed into service after May 12, 1993.) 1 Although the parties stipulated that petitioner began depreciating the gas stations in the year ending in 1992, this appears to be erroneous because petitioner’s

13151, 107 Stat. 448. For convenience, we refer to property placed in service between Jan. 1, 1985, and Dec. 31, 1986, generally as 19-year property. - 35 - In General Section 167 prescribes general rules governing the depreciation deduction, which provides a reasonable allowance for the exhaustion, wear and tear of property used in a trade o

13151, 107 Stat. 448. For convenience, we refer to property placed in service between Jan. 1, 1985, and Dec. 31, 1986, generally as 19-year property. - 35 - In General Section 167 prescribes general rules governing the depreciation deduction, which provides a reasonable allowance for the exhaustion, wear and tear of property used in a trade o