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Technical

Deduct Your Demolished Building Using a General Asset Account

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Gian Pazzia and James Liechty, CPA | Free | AICPA | 19 May 2016 | Tax Insider

Capitalization & depreciation
Intermediate
Article

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Using a general asset account for a building that will be demolished can save taxpayers money, but it must be elected as soon as the property is placed in service. This article explores the matter.

Topics covered:

Tax: Technical: Tax accounting: Capitalization & depreciation, Intermediate

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Technical

Deduct Your Demolished Building Using a General Asset Account

Comments/Reflections

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