The only Guide you need to deal with depreciation determining the right recovery periods, computing the right amount of depreciation, deciding whether expenses need to be capitalized, dealing with the special rules for autos and other listed property, claiming the Section 179 deduction, and more! Includes: Tables and charts telling you exactly how to handle specific assets and expenditures and find the quickest way to write off your clients assets.
Coverage of property dispositions, including tricky tax rules related to installment sales, like-kind exchanges and depreciation recapture. Loads of easy-to-read depreciation tables for MACRS, ADS, AMT, ACRS. Coverage of prior-year depreciation rules, limitation amounts, etc., to help you prepare amended returns and returns for late filers. Walks you through the rules for catching up understated depreciation, including a filled-in sample IRS Form 3115. Also ideal for the corporate tax accountant!