which such amounts were paid or incurred and such other person holds any part of the remaining equity interest, or (II) such other person acquired the entirety of such taxpayer’s equity interest in the land on which the lost or damaged citrus plants were located at the time of such loss or damage, and the replanting is on such land. (ii) Termination Clause (i) shall not apply to any cost paid or incurred after the date which is 10 years after the date of the enactment of the Tax Cuts and Jobs Act . . (b) Effective date The amendment made by this section shall apply to costs paid or incurred after the date of the enactment of this Act. B Accounting methods 13221. Certain special rules for taxable year of inclusion (a) Inclusion not later than for financial accounting purposes Section 451 is amended by redesignating subsections (b) through (i) as subsections (c) through (j), respectively, and by inserting after subsection (a) the following new subsection: (b) Inclusion not later than for financial accounting purposes Notwithstanding part V of subchapter P— (1) Financial statement (A) In general In the case of a taxpayer the taxable income of which is computed under the accrual method of accounting, the amount of any portion of any item of gross income shall be included in gross income not later than the taxable year with respect to which such amount is taken into account as income in— (i) an applicable financial statement of the taxpayer, or (ii) such other financial statement as the Secretary may specify for purposes of this subsection. (B) Exception In the case of a taxpayer which does not have a financial statement described in clause (i) or (ii) of subparagraph (A) for a taxable year, such subparagraph shall not apply. (2) Coordination with special rules for long-term contracts Paragraph (1) shall not apply with respect to any item of income to which section 460 applies. (3) Applicable financial statement For purposes of this subsection, the term applicable financial statement means— (A) a financial statement