From the pdf of the bill, software is still classified as R&D on page 303 of this bill; the change is that domestic (US) software R&D is no longer forced into a 5yr amortization schedule.
Foreign software R&D is still forced to be amortized over a 15 year period; see pages 304,305,306 of the bill.
Of note: Sec. 70302. Full expensing of domestic research and experimental expenditures.
This section reverts the ammortization of domestic R&E expenses.
Previous discussion: https://news.ycombinator.com/item?id=44226145
This also appears to keep the 15-year amortization of foreign R&D expenses, which should significantly preference doing R&D in the US.
This puts SDEs back as fully expendable in the current tax year? Unwinding the R&D classification?
From the pdf of the bill, software is still classified as R&D on page 303 of this bill; the change is that domestic (US) software R&D is no longer forced into a 5yr amortization schedule.
Foreign software R&D is still forced to be amortized over a 15 year period; see pages 304,305,306 of the bill.