Depreciation Rules
Depreciation and Bonus Rules
Pages about bonus depreciation as currently understood, Section 179, depreciation classes, state conformity, reporting, and partial dispositions, with verification cautions.
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The rules that turn a study's classification into deductions are the subject of this hub. It covers bonus depreciation as generally understood today, with repeated reminders to verify current law, along with the history that explains why caution is wise. It also covers Section 179, the depreciation classes of 5, 7, 15, 27.5, and 39 years, state conformity, reporting on Form 4562, and what happens when components are replaced.
Because bonus depreciation rules have been revised several times, no page here should be treated as a filing instruction. Use them to prepare good questions for your preparer. Start with Bonus Depreciation: Rules as Currently Understood (Verify) and Depreciation Classes: 5, 7, 15, 27.5, and 39 Years.
The property types most affected by these rules are covered in the property types hub, and the limits on using the deductions are in the tax limits hub.