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