Revenue ruling · 1970
Rev. Rul. 70-160
Rev. Rul. 70-160, 1970-1 C.B. 7
IRS administrative guidance
What it holds
An electrical distribution system the taxpayer installed to carry power from the local utility to its factory served the building generally, so it was a structural component under Treas. Reg. §1.48-1(e)(2), not tangible personal property. Applies to MACRS through Treas. Reg. §1.1245-3(b)(1) and Hospital Corp. of America, 109 T.C. 21.
Why it matters for your study: The IRS side of the line. General building electrical distribution, including the service from the utility, is §1250 building property. It does not support 5-year treatment of dedicated wiring.
- Category
- Asset classification
- Applies to
- All property types
- Status
- Vetted
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