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Page 301 > there shall allowed as a deduction any domestic research and experimental expenditures which are paid or incurred by the taxpayer in the current tax
by tareqak 1y ago
Page 301
> there shall allowed as a deduction any domestic research and experimental expenditures which are paid or incurred by the taxpayer in the current taxable year
AFAIK, there was no domestic vs. foreign R&D distinction in section 174 before.
- Thorrez 1y agoThere was a domestic vs foreign distinction in the TCJA, passed in 2017, which took effect in 2022: > 174 to require taxpayers to amortize specified R&E expenditures ratably over a five-year period for domestic expenditures and a 15-year period for specified R&E expenditures attributed to foreign research https://www.journalofaccountancy.com/issues/2022/nov/amortizing-r-e-expenditures-under-tcja/ https://www.journalofaccountancy.com/issues/2022/nov/amortiz...