Cost allocation method for contracts subject to PCM Clause Samples

Cost allocation method for contracts subject to PCM. (1) In general. Except as otherwise provided in paragraph (b)(2) of this section, a taxpayer must allo- cate costs to each long-term contract subject to the PCM in the same manner that direct and indirect costs are cap- italized to property produced by a tax- payer under § 1.263A–1(e) through (h). Thus, a taxpayer must allocate to each long-term contract subject to the PCM all direct costs and certain indirect costs properly allocable to the long- term contract (i.e., all costs that di- rectly benefit or are incurred by reason of the performance of the long-term contract). However, see paragraph (c) of this section concerning an election to allocate contract costs using the simplified cost-to-cost method. As in section 263A, the use of the practical capacity concept is not permitted. See
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