Treasury Regulations · 26 CFR
§ 1.167(a)-2. Tangible property.
Regulation text, no changes From the eCFR, current as of October 15, 2026. The eCFR is an authoritative but unofficial editorial compilation of the Code of Federal Regulations; the official text is the annual CFR on govinfo. Compare it with this section on ecfr.gov (external site) or the official annual CFR on govinfo (external site).
Regulation under 26 U.S.C. § 167(a)
Cite as 26 CFR § 1.167(a)-2
At a glance
Read from the text and its source citation. Not part of the regulation.
- Status
- In the current eCFR
- Source
- T.D. 6500, 25 FR 11402, Nov. 26, 1960; 25 FR 14021, Dec. 21, 1960; T.D. 9989, 89 FR 17606, Mar. 11, 2024, unless otherwise noted.
- Issued under
- 26 U.S.C. § 167(a)
- Length
- 134 words · about 1 min to read
- Cross-references
- cites 0 Code sections and 0 regulations; cited by 2
The depreciation allowance in the case of tangible property applies only to that part of the property which is subject to wear and tear, to decay or decline from natural causes, to exhaustion, and to obsolescence. The allowance does not apply to inventories or stock in trade, or to land apart from the improvements or physical development added to it. The allowance does not apply to natural resources which are subject to the allowance for depletion provided in section 611. No deduction for depreciation shall be allowed on automobiles or other vehicles used solely for pleasure, on a building used by the taxpayer solely as his residence, or on furniture or furnishings therein, personal effects, or clothing; but properties and costumes used exclusively in a business, such as a theatrical business, may be depreciated.
Cross-references
Computed from the citations in the text of 26 CFR.
Cited by 2 other regulations
Where it sits in 26 CFR
- Subchapter A Income tax
- Part 1 Income taxes
- Itemized Deductions for Individuals and Corporations
Nearby sections
- § 1.166-8 Losses of guarantors, endorsers, and indemnitors incurred on agreements made before January 1, 1976.
- § 1.166-9 Losses of guarantors, endorsers, and indemnitors incurred, on agreements made after December 31, 1975, in taxable years beginning after such date.
- § 1.166-10 Reserve for guaranteed debt obligations.
- § 1.167(a)-1 Depreciation in general.
- § 1.167(a)-2 Tangible property.
- § 1.167(a)-3 Intangibles.
- § 1.167(a)-4 Leased property.
- § 1.167(a)-5 Apportionment of basis.
- § 1.167(a)-5T Application of section 1060 to section 167 (temporary).