Federal Tax

First-Year Expensing and Additional Depreciation (Portfolio 532)

  • This Portfolio provides a basic reference tool for determining the first-year expensing and additional depreciation deductions available for selected properties.

Description

The Bloomberg Tax Portfolio, First-Year Expensing and Additional Depreciation, is a basic reference tool for determining the first-year expensing and additional depreciation deductions available for selected properties.

Specifically, this Portfolio examines the computation of each of these deductions. It also explains the limitations that apply, and describes the conditions that must be satisfied for property to fall within one or more of the provisions. It also covers effective dates, effects on basis, and special rules applicable to each deduction.

Table of Contents

I. Overview and Comparison of Section 179 Expensing and Bonus Depreciation

II. Section 179 Expensing

A. Overview

B. Dollar Limitations

C. Section 179 Property

D. Recapture

E. Excluded Taxpayers

F. Election

G. Tax Planning Implications

III. Additional First-Year Depreciation (Bonus Depreciation)

A. Qualified Property Additional First-Year Depreciation (Qualified Property Bonus Depreciation)

B. Specified Plant Additional First-Year Depreciation (Specified Plant Bonus Depreciation)

C. Biofuel Plant Property Additional First-Year Depreciation (Biofuel Plant Property Bonus Depreciation)

D. Reuse and Recycling Property Additional First-Year Depreciation (Reuse and Recycling Property Bonus Depreciation)

maule-james-2015
James Maule
Professor of Law, Emeritus
Villanova University School of Law
Scott Mackay
Scott Mackay
Ernst & Young LLP
Sam Weiler
Sam Weiler
Ernst & Young LLP
Tim Powell
Tim Powell
Ernst & Young LLP
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