How the TCJA changes depreciation periods for real property
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Description
Abstract: The Tax Cuts and Jobs Act (TCJA) alters the recovery periods for certain kinds of property depreciated under the modified accelerated cost recovery system (MACRS) and the alternative depreciation system (ADS). The law also expands eligibility for some additional depreciation deductions. This brief article examines how the TCJA affects depreciation periods for nonresidential and residential properties, as well as improvement property, and looks at how the TCJA generally limits business interest expense deductions.
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