IRS Publication 551 — Basis of Assets
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“In addition, if you own a business and use your employ- ees, material, and equipment to build an asset, don't de- duct the following expenses. Y ou must include them in the asset's basis. • Employee wages paid for the construction work, re- duced by any employment credits allowed. • Depreciation on equipment you own while it's used in the construction. • Operating and maintenance costs for equipme…”
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