Archive for the ‘Property Types’ Category

Types of Depreciable Property (2009-6-26)

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In general, depreciation is allowed on tangible and intangible property with a limited useful life of more than one year that is used in a trade or business or held for the production of income.
There are two basic property types:

Personal property, which under IRS Code, includes all depreciable property other than real property.

Real property which [...]