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Income Tax Planning
Chapter 10: Basis Rules, Depreciation, and Asset Categorization/LISTED PROPERTY
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Chapter Study Session

Chapter 10: Basis Rules, Depreciation, and Asset Categorization

LISTED PROPERTY

01.Core Concepts

• Property that can be used for business or personal purposes: • Cars (< 6,000 lbs. GVW) • Property generally used for entertainment, recreational, or amusement purposes • If used > 50% for business: • Normal MACRS rules apply for portion that represents business use