What COST DEPLETION means: A method for recovering the taxpayer's investment in natural resources or timber. The cost is recovered proportionately as the resource is extracted or the timber harvested. Also see "Percentage Depletion.".
- Definition Change In Accounting Period:
- Dictionary A change from one accounting period to another. Income for the short period created by the change must be annualized to calculate the tax for that period cost depletion definition.
- Definition Closed Year:
- Dictionary A tax year for which the statute of limitations has expired. The taxpayer can't claim a refund and the IRS can't collect additional taxes (with certain exceptions cost depletion explain.
- Definition Capital Asset:
- Dictionary all assets are capital assets except those specifically excluded by the tax Code. Major categories of noncapital assets include property held for resale in the normal course of business (inventory cost depletion what is.
- Definition Class Life Asset Depreciation Range (CLADR):
- Dictionary A system of depreciation used to depreciate assets placed in service prior to January 1, 1981 cost depletion meaning.
How works Cost Depletion meaning in Tax definitions C .
