Notice 2013-59: Section 179 Property
Notice 2013-59 provides guidance to taxpayers who choose under §179(f) to treat as an expense the costs of certain real property placed in service during any taxable year beginning in 2010, 2011, 2012, or 2013. It defines which real property is eligible for the election, and explains how excess §179(f) deductions are carried over and taken into account in future years. It also provides allocation methodologies for determining §1245 and §1250 recapture upon the sale or other disposition of qualified real property where the unadjusted basis is reduced by the §179 deduction.
Notice 2013-59 will be published in Internal Revenue Bulletin 2013-40 on Sept. 30, 2013.