Drake Tax - Depreciable Property Placed in Service and Sold in the Same Year
Article #: 14095
Last Updated: October 18, 2024
Depreciation not calculating on an item that was placed in service and sold during the same year
Even if all requirements to depreciate property have been met, you cannot depreciate property placed in service and disposed of in the same year.
For information on what qualifies to be depreciated, or to determine the property's placed in service date, see Publication 946.