Introduction This publication explains how you can recover the cost of business or income-producing property through deductions for depreciation (for example, the special depreciation …

Dec 4, 2025 · For certain qualified property and certain specified plants, you can elect to take a special depreciation allowance of 80% or 60%. This allowance is taken after any allowable …

May 17, 2019 · With the passing and implementation of the TCJA, the factors and situations in which a taxpayer would be required to depreciate property placed in service under the ADS …

Assets used outside the United States, property that is tax-exempt, and assets used less than 50 percent for business (e.g., many automobiles) are required to be depreciated following the …

Important: Land improvements do not qualify for Section 179 expensing (Section 179 is generally limited to tangible personal property and certain qualified real property improvements), but …

Jul 17, 2025 · A new property category was introduced in the new tax legislation, known as Qualified Production Property under Section 168 (n). The legislation provides full expensing for …

Mar 27, 2025 · This election is required for certain taxpayers, such as those with tax-exempt financing or foreign-use property, but may also be voluntarily chosen to smooth out income …

Mar 2, 2023 · Tax-exempt use property carries specified depreciation rules, which can be found in IRC Sec. 168 (g) (3).

Rev. Proc. 2023-14 provides two major updates: (1) limitations on depreciation deductions for owners of passenger automobiles placed in service in calendar year 2023 and (2) amounts …

If you don’t, you can’t claim a Section 179 deduction. Instead, you must depreciate the property using the alternative depreciation system (ADS). The straight-line method is used under ADS. …