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Business & farm
You can't just delete an item when it's fully depreciated, because in the tax year you sell or otherwise dispose of that asset, you are required to recapture all depreciation and pay taxes on it, in the tax year of sale or disposition.
Many incorrectly believe that depreciation is a deduction that is permanent and forever. It's not.
Many incorrectly believe that depreciation is a deduction that is permanent and forever. It's not.
‎June 4, 2019
3:22 PM