unrecovered basis
Defined in 1 place of the United States Code.
For purposes of subsection (a)(1), the term “unrecovered basis” means the adjusted basis of the passenger automobile determined after the application of subsection (a) and as if all use during the recovery period were use in a trade or business (including the holding of property for the production of income).
Source
- 2014–present26 U.S.C. § 280FInternal Revenue Code · Limitation on depreciation for luxury automobiles; limitation where certain property used for personal purposes · for purposes of this section
For purposes of subsection (a)(2), the term “unrecovered basis” means the adjusted basis of the passenger automobile determined after the application of subsection (a) and as if all use during the recovery period were use in a trade or business (including the holding of property for the production of income).
Source
- 1994–201426 U.S.C. § 280FInternal Revenue Code · Limitation on depreciation for luxury automobiles; limitation where certain property used for personal purposes · for purposes of this section