CCH Learning Center

Description:
This course discusses the bonus depreciation deduction, focusing especially on the requirements for claiming bonus depreciation at a 50 percent rate. The course also provides a quick review of the requirements for the former 100 percent rate. The rules for qualifying for the section 179 expensing allowance are also covered, including a discussion on important distinctions between the bonus and expensing deductions. Upon completion of this course, the user should be able to: Identify the types of property that quality for bonus depreciation; Decide whether the bonus depreciation acquisition and placed-in-service deadlines are satisfied; Understand special rules that apply to property having a longer production period and noncommercial aircraft; Describe the basic rules for qualifying for 100 percent bonus depreciation including the election to claim the 100 percent rate on components of self-constructed property; Describe how bonus depreciation interacts with other tax code provisions; Understand the requirements and limitations for expensing property under Code Sec. 179; Describe the Section 179 election for qualified real property; Point out similarities and differences between bonus depreciation and the Section 179 allowance