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Federal Tax Research 10th Edition by Roby Sawyers,William Raabe,Gerald Whittenburg,Steven Gill
Edition 10ISBN: 978-1285439396Federal Tax Research 10th Edition by Roby Sawyers,William Raabe,Gerald Whittenburg,Steven Gill
Edition 10ISBN: 978-1285439396 Exercise 21
Correctly cite the italicized sentence indicated by the dart ( ) in the following passage from the Code:
SECTION 263A. CAPITALIZATION AND INCLUSION IN INVENTORY COSTS OF CERTAIN EXPENSES
a. Nondeductibility of certain direct and indirect costs
1. In general-In the case of any property to which this section applies, any costs described in paragraph (2)-
A. in the case of property which is inventory in the hands of the taxpayer, shall be included in inventory costs, and
B. in the case of any other property, shall be capitalized.
2. Allocable costs
SECTION 263A. CAPITALIZATION AND INCLUSION IN INVENTORY COSTS OF CERTAIN EXPENSES
a. Nondeductibility of certain direct and indirect costs
1. In general-In the case of any property to which this section applies, any costs described in paragraph (2)-
A. in the case of property which is inventory in the hands of the taxpayer, shall be included in inventory costs, and
B. in the case of any other property, shall be capitalized.
2. Allocable costs
Explanation
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A citation is the statement which is wri...
Federal Tax Research 10th Edition by Roby Sawyers,William Raabe,Gerald Whittenburg,Steven Gill
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