BillM223
Employee Tax Expert

Deductions & credits

@Rabbits01

 

As TaxGuyBill wrote above:

 

"Many items over $200 are depreciated over a number of years as "Assets".  The Special Depreciation Allowance gives you 50% of that deduction in the first year, then the other 50% is depreciated as usual.  Starting September 28th, 2017, the Special Depreciation Allowance was changed to 100%.

 

It is an automatic thing.  You need to specifically elect OUT of it if you do not want it."

 

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