This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
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...
View Full Document
- Fall '08
- Depreciation, Taxation in the United States, Generally Accepted Accounting Principles, annual investment limit, Limits Annual limit