Previous Page: Publication 946 - How to Depreciate Property - How Can You Elect Not To Claim an Allowance? Next Page: Publication 946 - How to Depreciate Property - Figuring Depreciation Under MACRS Use   to find additional instances of index items.

taxmap/pubs/p946-017.htm#TXMP099b2486 When Must You Recapture an Allowance?

Depreciation, Recapture

When you dispose of property for which you claimed a special depreciation allowance, any gain on the disposition is generally recaptured (included in income) as ordinary income up to the amount of the special depreciation allowance previously allowed or allowable. See When Do You Recapture MACRS Depreciation in chapter 4 for more information.

taxmap/pubs/p946-017.htm#TXMP678ddcab Recapture of allowance deducted for qualified GO Zone property.

If, in any year after the year you claim the special depreciation allowance for qualified GO Zone property, the property ceases to be used in the GO Zone, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance.

taxmap/pubs/p946-017.htm#TXMP300b635d Qualified cellulosic biomass ethanol plant property.

If, in any year after the year you claim the special depreciation allowance for any qualified cellulosic biomass ethanol plant property, the property ceases to be qualified cellulosic biomass ethanol plant property, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance.

Previous Page:  Publication 946 - How to Depreciate Property - How Can You Elect Not To Claim an Allowance? Next Page:  Publication 946 - How to Depreciate Property - Figuring Depreciation Under MACRS Use     to find additional instances of index items.