Basis for Depreciation

Concept of Basis For Depreciation in the context of Real Property

A short definition of Basis For Depreciation: The value of property for purposes of depreciation. For example: A purchased asset The basis is cost, whether fully paid for or not. The method for determining the basis is different for gift, inheritance, etc.

Concept of Basis For Depreciation in the context of Real Property

A short definition of Basis For Depreciation: The value of property for purposes of depreciation. For example: A purchased asset The basis is cost, whether fully paid for or not. The method for determining the basis is different for gift, inheritance, etc.