for the identification of both the assets sold (including basis and sale price) and the assets acquired and investments made, and (C) rules to prevent abuse. 1400W–3. Immediate expensing of qualified gigabit opportunity zone business property (a) In general An eligible taxpayer may elect to treat the cost of any qualified gigabit opportunity zone business property (as defined in section 1400W–2) as an expense which is not chargeable to capital account. Any cost so treated shall be allowed as a deduction for the taxable year in which the qualified gigabit opportunity zone business property is placed in service. (b) Eligible taxpayer For purposes of this section, the term eligible taxpayer has the same meaning given to such term under section 1400W–2(c). (c) Exception for certain property For purposes of this section, the term qualified gigabit opportunity zone business property shall not include any property to which section 168(g) applies. (d) Election An election under this section shall be made under rules similar to the rules of section 179(c). (e) Coordination with section 179 For purposes of section 179, qualified gigabit opportunity zone business property shall not be treated as section 179 property. (f) Application of other rules Rules similar to the rules of paragraphs (3), (4), (5), (7), (9), and (10) of section 179(d) shall apply for purposes of this section. (g) Taxpayer reporting This section shall not apply with respect to any taxpayer for any taxable year unless such taxpayer provides the Secretary with such information as the Secretary may require to allow the Secretary to evaluate the effectiveness of the program established under this part. . (b) Basis adjustments Section 1016(a) of such Code is amended by striking and at the end of paragraph (37), by striking the period at the end of paragraph (38) and inserting , and , and by inserting after paragraph (38) the following new paragraph: (39) to the extent provided in section 1400W–2(b). . (c) Clerical amendment The table of subchapters for