Publication 946 |
2001 Tax Year |
Introduction
Depreciation is an annual income tax deduction that allows you to recover the cost or other basis of certain property over the time you use the
property. It is an allowance for the wear and tear, age, deterioration, or obsolescence of the property.
This chapter discusses the general rules for depreciating property. It explains what property can be depreciated, when depreciation begins and
ends, whether MACRS can be used to figure depreciation, what the basis for depreciation is, and how to treat improvements. It also explains whether
you have to file Form 4562 and how you can correct depreciation claimed incorrectly in a previous year.
Previous| First | Next
Publication Index | IRS-Forms Main | Home
|