Depreciation

Depreciation - definition

Depreciation is the annual deduction allowed to recover the cost or other basis of business or investment property having a useful life of more than one year. Land is not depreciable. Depreciation and amortization deductions are reported on IRS Form 4562.

Need Professional Help?

If you need help with "Depreciation" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.