Visit the U.S. Internal Revenue Service website at www.irs.gov and answer the following questions about depreciation and

Question:

Visit the U.S. Internal Revenue Service website at www.irs.gov and answer the following questions about depreciation and MACRS by consulting Publication 946, How to Depreciate Property.

(a) What is the definition of depreciation according to the IRS?

(b) What is the description of the term salvage value?

(d) What are the properties listed that cannot be depreciated under MACRS?

(e) When does depreciation begin and end?

(f) What is a Section 179 deduction?

Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...