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Unformatted text preview: Straight-line ADS Table 10-7 Mandatory for alternative minimum tax Can elect in order to defer deductions Listed property Require taxpayers to adequately substantiate the extent of an assets business use Cars, computers, cell phones, cameras Automobile limits annual limits placed on amount of depreciation Intangibles Use amortization instead of depreciation Section 197 15 year amortization Depletion Used for natural resources 2 methods: cost and percentage Cost is based on quantities Percentage is based on sales using published rates...
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This note was uploaded on 02/20/2009 for the course H ADM 422 taught by Professor Lhensley during the Fall '08 term at Cornell University (Engineering School).
- Fall '08