What RECOVERY PROPERTY means: Recovery property is a term used to describe property that is eligible to be depreciated under either ACRS or MACRS. See ACRS and MACRS.
- Definition Regular Method (Automobile Expenses):
- Dictionary A deduction for business use of the taxpayer's vehicle based on actual cost of gas, oil, repairs, tires, washing, etc. plus a deduction for depreciation recovery property definition.
- Definition Recovery:
- Dictionary deduction or creditable expense paid in a previous year that is later refunded to the taxpayer. The recovered amount must usually be included in income in the year it is received, to the extent of recovery property explain.
- Definition Recapture Of Depreciation:
- Dictionary property is sold, gain generally is taxed as ordinary income up to the amount of depreciation claimed (for personal property) and to the extent of the excess of accelerated depreciation claimed over recovery property what is.
- Definition Resident Alien:
- Dictionary A citizen of another country who lives in the United States and/or has resident status by law or visa, or passes the substantial presence test recovery property meaning.
How works Recovery Property meaning in Tax definitions R .
