What qualifies for special depreciation allowance?
What qualifies for special depreciation allowance? Special Depreciation Allowance Generally, this rule can be applied to property with 20 years or less useful life that is placed in service before January 1, 2018. The deduction is reduced to 40% for property placed in service before January 1, 2019 and 30% for property placed in service before January 2, 2020. When can you take special depreciation allowance? The special depreciation allowance applies only for the first year the property is placed in service. The allowance is an additional deduction you can take after any section 179 expense deduction and before you...