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4562 example 2024 Form: What You Should Know
Use Section 199 to deduct depreciation expenses and determine the maximum allowable depreciation deduction · Depreciation may be calculated based on the property's actual useful life or on its depreciable amount · the depreciable amount is the amount which could be recovered on the sale of the asset (if recoverable); to determine the value of the depreciable property at the time of purchase, use your basis for depreciating the property · an asset may have both an expensing and depreciation feature.
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