Apply capitalization rules in general Identify capitalization exceptions for materials and supplies

Apply “de minimis” rules in electing not to capitalize certain amounts for entities with and without an “applicable financial statement”

Determine amounts considered “spent to acquire tangible property”

Identify improvements to tangible property: Unit of property definitions, including special rules applicable to real property; Leased property rules for lessees and lessors; Routine maintenance safe harbors

Determine what is the proper tax treatment for cost associated with the “restoration” or “betterment” of property

Define adapting a property to a new or different use

Determining property that qualifies for Section 179 expensing treatment

Applying cost recovery rules under Section 168 and bonus depreciation