Tag Archives: Special Depreciation Allowance

Special Depreciation Allowance [IRC §168(k)]

04 February
Special Depreciation Allowance

The special depreciation allowance was first introduced to assist taxpayers in recovering from the September 11, 2001, terrorist attacks. In its original state, the allowance was an additional depreciation deduction of 30% of the qualified property’s depreciable basis and was generally claimed in the year the property was placed in service. The adjusted basis of […]