Posted by 2510Paul on February 10, 2017 at 20:45:39 from (207.118.233.112):
In Reply to: Re: Depreciation posted by Patsdeere on February 10, 2017 at 19:19:02:
I am not sure what is hinky but I will give 2 cents. :-)
I was just reading about Depreciation Recapture for another reason.
In my reading, you can start depreciating an item once you put it in service, not when you buy it unless those are the same dates. Likewise, you cannot depreciate an item further when you take it out of service, even if it is not fully depreciated.
I have not found an example that exactly matches your situation but it seems the spirit of the code is you can depreciate when you are benefiting from or using the item in your business. That is you are consuming it's servicable life. So it would seem to me you cannot depreciate those two years. On the other hand some like to push the gray areas.
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