What ACCELERATED COST RECOVERY SYSTEM (ACRS) means: The system of depreciation mainly used for property placed in service after 1980 and before 1987. ACRS is also used for certain property placed in service after 1986 that is acquired from a related party who used the property before 1987. See Modified Accelerated Cost Recovery System (MACRS) for property placed in service after 1986.
- Definition Annuity:
- Dictionary to a person at specified intervals for a specific period of time or for life. The amouont may be fixed or variable. Payments represent a partial return of capital and a return on the capital accelerated cost recovery system (acrs) definition.
- Definition Amended Return:
- Dictionary on Form 1040X after the original return has been filed. An amended return is used to correct errors or to claim more advantageous ways of filing the original return. An amended return can also be accelerated cost recovery system (acrs) explain.
- Definition Amount Realized:
- Dictionary by a taxpayer on the sale or exchange of property. The amount received is the sum of the cash and the fair market value of any property or services plus any of the seller's liabilities assumed accelerated cost recovery system (acrs) what is.
- Definition Adjusted Basis:
- Dictionary original basis of property reduced by adjustments such as depreciation allowed or allowable and casualty losses, and increased by the cost of capital improvements, expenses of purchase, and other accelerated cost recovery system (acrs) meaning.
How works Accelerated Cost Recovery meaning in Tax definitions A .