Depreciation - Overview of MACRS Basis Concepts   Updated

This course presents the basics of MACRS depreciation, including determining the basis of depreciable property and the regulations pertaining to repairs and capitalized costs. It also presents the use of Multiple Asset Accounts (MAAs) and General Asset Accounts (GAAs) and concludes with a discussion of allowable depreciation. Participants will learn how to distinguish deductible repairs and maintenance from costs that must be capitalized and how these rules affect the basis of depreciable property. The course also examines how dispositions of assets within MAAs and GAAs affect depreciation and the recognition of gain or loss.