Depreciable Property? What property can be depreciated? What property cannot?

When does depreciation begin and end?

Depreciation Method: What method can you use to depreciate your property?

  • Modified Accelerated Cost Recovery System (MACRS)

MACRS has two depreciation systems:

  • the General Depreciation System (GDS)
  • the Alternative Depreciation System (ADS)

Basis for Depreciation: What is the basis of your depreciable property?

Repairs v. Improvements: How do you treat repairs and improvements?

Form 4562: Do you have to file Fomr 4562?

Corrections: How do you correct depreciation deductions?

Recovery class, Applicable recovery period, Convention, Placed-in-service date,

how to determine which MACRS depreciation system applies to your property