The Treasury Department and IRS issued final regulations under Section 168 concerning the disposition of Modified Accelerated Cost Recovery System (MACRS) property. The final regulations, effective August 18, 2014, adopt proposed regulations issued in September 2013 with some changes. The final regulations provide rules for determining the unadjusted depreciable basis of a disposed asset, or a disposed portion of an asset, in a general or multiple asset account. Additionally, the final regulations specify the manner of making specified disposition elections for assets included in a general asset account subject to Section 280B.
The regulations can be accessed via: TD 9689.pdf.