The basis of the property for ACRS recovery had to be reduced by one-half of the amount of the ITC taken. Real Property Recovery is based on the month the property is placed in service. ACRS provides for a S.L. election vs statutory percentage over the regular recovery period or a longer period. All tangible personal property used in A T or B or held for the production of income. Mid Quarter Applies to all assets acquired that year subject to cost recovery.
Salvage value is assumed to be zero.
Salvage value is assumed to be zero. 179 Expense cannot exceed taxable income from T or B computed without regard to ' 179 expense. Computed using S.L. with zero salvage. 197 Intangibles are amortized on S. L. Basis over a 15-year period beginning in the month the intangible is acquired. GAAP - Useful life amortize over period less than 40 years.