Straight line recovery of intangibles defined

For purposes of paragraph (2) of subsection (a)—

(1) In general

(1)In general#

The term “straight line recovery of intangibles”, when used with respect to intangible drilling and development costs for any well, means (except in the case of an election under paragraph (2)) ratable amortization of such costs over the 120-month period beginning with the month in which production from such well begins.

(2)Election#

If the taxpayer elects with respect to the intangible drilling and development costs for any well, the term “straight line recovery of intangibles” means any method which would be permitted for purposes of determining cost depletion with respect to such well and which is selected by the taxpayer for purposes of subsection (a)(2).

in view

Whole section

▸rulespec code

Shown source

statutes/26/57.yaml

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Rules

no_other_section_57_preference

Derived

source: 26 USC 57(a), bounded completed-preference domain

- name: no_other_section_57_preference
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: 26 USC 57(a), bounded completed-preference domain
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/57/a
            excerpt: the items of tax preference determined under this section are
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        completed_section_57_a_5_specified_private_activity_bond_interest >= 0
        and section_57_a_5_completed_interest_domain_is_satisfied
        and section_57_a_1_depletion_preference_is_zero
        and section_57_a_2_intangible_drilling_cost_preference_is_zero
        and section_57_a_6_pre_1987_depreciation_or_amortization_preference_is_zero
        and section_57_a_7_small_business_stock_preference_is_zero

section_57_a_5_specified_private_activity_bond_interest

Derived

source: 26 USC 57(a)(5), guarded completed tax-exempt-interest preference

- name: section_57_a_5_specified_private_activity_bond_interest
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 57(a)(5), guarded completed tax-exempt-interest preference
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/57#no_other_section_57_preference
            output: no_other_section_57_preference
            hash: sha256:local
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/57/a/5/A
            excerpt: >-
              Interest on specified private activity bonds reduced by any deduction (not allowable
              in computing the regular tax) which would have been allowable if such interest were
              includible in gross income.
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/26/57/a/5/C
            excerpt: >-
              For purposes of this part, the term “specified private activity bond” means any
              private activity bond (as defined in section 141) which is issued after August 7, 1986
              , and the interest on which is not includible in gross income under section 103.
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        if no_other_section_57_preference:
          completed_section_57_a_5_specified_private_activity_bond_interest
        else:
          0

loading…

Straight line recovery of intangibles defined

Official source

For purposes of paragraph (2) of subsection (a)—

(1) In general

(1)In general#

(2)Election#

in view

Whole section

▸rulespec code

Shown source

statutes/26/57.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/57; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

no_other_section_57_preference

Derived

source: 26 USC 57(a), bounded completed-preference domain

- name: no_other_section_57_preference
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: 26 USC 57(a), bounded completed-preference domain
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/57/a
            excerpt: the items of tax preference determined under this section are
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        completed_section_57_a_5_specified_private_activity_bond_interest >= 0
        and section_57_a_5_completed_interest_domain_is_satisfied
        and section_57_a_1_depletion_preference_is_zero
        and section_57_a_2_intangible_drilling_cost_preference_is_zero
        and section_57_a_6_pre_1987_depreciation_or_amortization_preference_is_zero
        and section_57_a_7_small_business_stock_preference_is_zero

section_57_a_5_specified_private_activity_bond_interest

Derived

source: 26 USC 57(a)(5), guarded completed tax-exempt-interest preference

- name: section_57_a_5_specified_private_activity_bond_interest
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 57(a)(5), guarded completed tax-exempt-interest preference
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/57#no_other_section_57_preference
            output: no_other_section_57_preference
            hash: sha256:local
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/57/a/5/A
            excerpt: >-
              Interest on specified private activity bonds reduced by any deduction (not allowable
              in computing the regular tax) which would have been allowable if such interest were
              includible in gross income.
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/26/57/a/5/C
            excerpt: >-
              For purposes of this part, the term “specified private activity bond” means any
              private activity bond (as defined in section 141) which is issued after August 7, 1986
              , and the interest on which is not includible in gross income under section 103.
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        if no_other_section_57_preference:
          completed_section_57_a_5_specified_private_activity_bond_interest
        else:
          0