Depreciation Conventions
Under certain circumstances, the general dollar limits on the section 179 deduction may be reduced or increased or there may be additional dollar limits. The general dollar limit is affected by any of the following situations. The term of the lease is less than 50% of the property’s class life. Property used by governmental units or foreign persons or entities, except property used under a lease with a term of less than 6 months.
If you place property in service in a personal activity, y […]