Are taxpayers allowed to claim depreciation expense on assets they use for both business and personal purposes?

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Are taxpayers allowed to claim depreciation expense on assets they use for both business and personal purposes? What are the tax consequences if the business use drops from above 50 percent in one year to below 50 percent in the next?

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Taxation Of Individuals And Business Entities 2015

ISBN: 9780077862367

6th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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Question Posted: Jan 20, 2017 10:30 AM

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Are taxpayers allowed to claim depreciation expense on assets they use for both business and personal purposes?

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Yes taxpayers may depreciate mixed use assets those used for bo...View the full answer

Taxation Of Individuals And Business Entities 2015

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