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Depreciation

Exam Questions: 30
Course Level: Basic
Pages: 154 | Content: 144, Supplemental: 10
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 7460E

This course discusses how you can recover the cost of business or income-producing property through deductions for depreciation, including the special depreciation allowance and deductions under the Modified Accelerated Cost Recovery System (MACRS). It also explains how you can elect to take a section 179 deduction, instead of depreciation deductions, for certain property, and the additional rules for listed property. All course material provided. No prerequisites. Course level: Basic.

EA Program Approval Number: ZX34G-T-00415-21-S

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Course Information

Table of Contents
  • Overview of Depreciation
  • Electing the Section 179 Deduction
  • Claiming the Special Depreciation Allowance
  • Figuring Depreciation Under MACRS
  • Additional Rules for Listed Property
Objectives
  • To recognize the general rules for depreciating property
  • To recall various requirements for electing the section 179 deduction
  • To recall various requirements for electing the special depreciation allowance
  • To recognize the different MACRS depreciation systems and the information required to properly calculate the allowable depreciation and potential recapture
  • To identify the deduction limits and special rules that apply to certain listed property

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