Property Qualifying for Bonus Depreciation
Just What Property Does Qualify for Bonus Depreciation?
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (a.k.a., the 2010 Tax Relief Act) created a temporary allowance for 100% expensing using bonus depreciation on certain qualifying property. In addition, the Act extended the 50% bonus depreciation deduction for two more years, through 2012 for most qualifying fixed assets and through 2013 for others. While there already were numerous dates and rules to remember for deciding which property qualifies for bonus depreciation, the 2010 Act added additional ones.
This article will clear up the confusion as to which assets qualify for this valuable deduction including:
- What are the basic requirements to qualify for bonus depreciation?
- What are the placed-in-service dates for 100% versus 50% bonus property?
- Long-Production-Period Property and Certain Aircraft
- Rules for Specific Scenarios
- What are the certain types of assets that do not ever qualify for the bonus depreciation deduction?
Download this article to learn what property does qualify for bonus depreciation.
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