Rev. Rul. 64-273

Revenue Ruling 60-358, C.B. 1960-2, 68, states, in effect, that the Internal Revenue Service accepts the `income forecast' method of compouting depreciation for the cost of leased or rented television films, taped shows for reproduction, and other property of a similar character.

Held , motion picture film subject to an allowance for depreciation is included in the category of `other property of a similar character.'

Revenue Ruling 60-358, C.B. 1960-2, 68, is hereby amplified.