On pages 8-14 and 8-15 (Section 8-3b), the text notes that the Tax Cuts and Jobs Act allows taxpayers to deduct 100% of the basis of qualified property placed in service during the tax year. The text hints that the definition of qualified property was changed by that Act and notes that used property can now qualify, while footnote 18 states that the new provision applies to property placed in service after September 27, 2017.

Please list and describe any changes made by the Tax Cuts and Jobs Act to the definition of qualified property for which bonus depreciation is allowed under the revised law. Be sure to list and describe any changes to the types of property that are expressly excluded from qualified property.

Please answer each question in complete sentences, and cite name and number of the IRS publication or form/instruction where you found each answer, and the page number on which the answer is found. Use your own words in the answer

Data is from IRS publication