7-year property
Defined in 1 place of the United States Code.
The term “7-year property” includes—
(i) any railroad track, and 2
(ii) any motorsports entertainment complex,
(iii) any Alaska natural gas pipeline,
(iv) any natural gas gathering line the original use of which commences with the taxpayer after April 11, 2005, and
(v) any property which—
(I) does not have a class life, and
(II) is not otherwise classified under paragraph (2) or this paragraph.
Source
- 2005–201826 U.S.C. § 168Internal Revenue Code · Accelerated cost recovery system · for purposes of this section
The term "7-year property" includes—
(i) any railroad track, and 3
(ii) any motorsports entertainment complex,
(iii) any Alaska natural gas pipeline,
(iv) any natural gas gathering line the original use of which commences with the taxpayer after April 11, 2005, and
(v) any property which—
(I) does not have a class life, and
(II) is not otherwise classified under paragraph (2) or this paragraph.
Source
- 2017–201826 U.S.C. § 168Internal Revenue Code · Accelerated cost recovery system · for purposes of this section
The term “7-year property” includes—
(i) any railroad track, and
(ii) any property which—
(I) does not have a class life, and
(II) is not otherwise classified under paragraph (2) or this paragraph.
Source
- 1994–200526 U.S.C. § 168Internal Revenue Code · Accelerated cost recovery system · for purposes of this section
The term “7-year property” includes—
(i) any railroad track,
(ii) any motorsports entertainment complex,
(iii) any Alaska natural gas pipeline,
(iv) any natural gas gathering line the original use of which commences with the taxpayer after April 11, 2005, and
(v) any property which—
(I) does not have a class life, and
(II) is not otherwise classified under paragraph (2) or this paragraph.
Source
- 2018–present26 U.S.C. § 168Internal Revenue Code · Accelerated cost recovery system · for purposes of this section