Leo and Evelyn Trentadue - Page 14

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          particular asset was a land improvement (i.e., permanent).                  
          Whiteco Indus., Inc. v. Commissioner, 65 T.C. 664 (1975).  In               
          Whiteco Indus., Inc., the Court analyzed existing caselaw and               
          derived six factors that had been used in other cases to determine          
          whether an asset is an improvement to real property.  Id. at 672-           
          673.  The Court in Whiteco decided whether advertising signs                
          (outdoor billboards) constitute "tangible personal property"                
          within the meaning of section 48(a)(1)(A), and therefore, may               
          qualify for the investment credit provided in section 38.2  The             
          statute, definitions, and concepts in Whiteco are sufficiently              
          similar to the ones we consider so that we find it appropriate to           
          use those guidelines to assist the Court in this case.  Although            
          there are six tests, they overlap each other, but their primary             
          focus is the question of the permanence of depreciable property             
          and the damage caused to it or to realty upon removal of the                
          depreciable property.  No one factor has been considered to be              
          determinative, and the guidelines have been used merely as an aid           
          to deciding whether a particular property is or is not a permanent          
          improvement to real property.                                               

               2 Whiteco Indus., Inc. v. Commissioner, 65 T.C. 664 (1975)             
          involved the taxable years 1967 through 1971 and, accordingly,              
          was construing secs. 38 and 48(a)(1)(A), as in effect for those             

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