Substantial improvement Sample Clauses

Substantial improvement. For purposes of clause (i), property shall be treated as substantially improved by the taxpayer only if, during any 24-month period beginning after December 31, 1997, additions to basis with respect to such property in the hands of the taxpayer ex- ceed the greater of— (I) an amount equal to the adjusted basis of such property at the beginning of such 24-month period in the hands of the taxpayer, or (II) $5,000.