United Telecommunications, Inc. v. Commissioner
United States Tax Court
Held, for purposes of determining qualified investment pursuant to sec. 46(c)(1)(A) on which the new sec. 38 credit against tax is calculated, the basis of the self-constructed new sec. 38 property does not include depreciation sustained with respect to construction-related assets having useful lives of at least 4, but less than 8, years.
1Opinion of the Court
SUPPLEMENTAL OPINION
Forrester, Judge:
On November 10, 1975, we filed our Findings of Fact and Opinion in the instant case (65 T.C. 278), which held that petitioner1 was entitled to include in the basis of self-constructed telephone and powerplant properties that qualify as new section 38 property the capitalized depreciation of property used in its construction on which no investment credit had been allowed.
The problem with which we were faced in our prior opinion is outlined in detail therein. The following brief recapitulation is necessary, however, in order to understand more easily the…
2Cases cited2 opinions
- Commissioner v. Idaho Power Co.Supreme Court of the United States · 1974
- United Telecommunications, Inc. v. CommissionerUnited States Tax Court · 1975
3Cited by30 opinions
- United Telecommunications, Inc. (Formerly United Utilities, Incorporated) v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1978
- Peninsula Steel Products & Equipment Co. v. CommissionerUnited States Tax Court · 1982
- Zuanich v. CommissionerUnited States Tax Court · 1981
- Rome I, Ltd. v. CommissionerUnited States Tax Court · 1991
- O'Brien v. CommissionerUnited States Tax Court · 1982
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