{"id":67,"date":"2021-05-27T15:51:40","date_gmt":"2021-05-27T15:51:40","guid":{"rendered":"https:\/\/heartpain.ir\/?p=67"},"modified":"2024-05-06T10:05:44","modified_gmt":"2024-05-06T10:05:44","slug":"topic-no-704-depreciation-internal-revenue-service","status":"publish","type":"post","link":"https:\/\/heartpain.ir\/?p=67","title":{"rendered":"Topic no 704, Depreciation Internal Revenue Service"},"content":{"rendered":"

\"depreciable<\/p>\n

To figure your deduction, first determine the adjusted basis, salvage value, and estimated useful life of your property. The balance is the total depreciation you can take over the useful life of the property. Your depreciation deduction for the year cannot be more than the part of your adjusted basis in the stock of the corporation that is allocable to your business or income-producing property. You must also reduce your depreciation deduction if only a portion of the property is used in a business or for the production of income. Depreciation recapture on real estate property is not taxed at the ordinary income rate as long as straight-line depreciation was used over the life of the property. Any accelerated depreciation previously taken is still taxed at the ordinary income tax rate during recapture.<\/p>\n<\/p>\n