§ 24442
74 words·~1 min read·
/ca/revenue-and-taxation-code/24442A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In the case of the demolition of any structure—
(1)No deduction otherwise allowable under this part shall be allowed to the owner or lessee of such structure for—
(A)Any amount expended for such demolition, or
(B)Any loss sustained on account of such demolition; and
(2)Amounts described in paragraph
(1)shall be treated as property chargeable to capital account with respect to the land on which the demolished structure was located.