Depreciation 101: What is MACRS?

[@shinshigure]

This is the best explanation of MACRS in KZbin! Thanks.

[@TheTaxGeek]

You're welcome. And thank YOU.

[@miguelalvarado1440]

Thanks. This is really a solid introduction to MACRS. I appreciated it! Have a good holidays!!!

[@TheTaxGeek]

Thanks! and you have a good holiday as well!

[@Lekeing]

Great content. Makes the concept a lot easier to understand

[@ellenoir5678]

Top of morning coach!!

[@amitsavadatti7974]

I love the way you explain. What happens for the personal property assets (1245) when we sell the property within 3years of purchase and we opted fot cost segregation study.

[@TheTaxGeek]

I haven't really covered disposition of business-use assets (except for real property), but in short any gain (or loss) on the sale of a business-use assets is the selling price minus the adjusted basis (which is the original cost of the asset minus any depreciation you took (or could have taken). Unless the asset increased in value since you purchased it, any gain would be reported as ordinary income and any loss could be used to offset other income. Look for a video on this subject soon!

[@charlesmiller8299]

🔥

[@nadialandas8420]

thank you so so so much

[@luxurytaxprep]

Wow made this concept extremely digestible! Do you have a video for part 1 and 2 yet? Or a course?

[@TheTaxGeek]

I've already made videos on Special Depreciation kzbin.info/www/bejne/n6C8oo2ga9x8jtU and the Section 179 Deduction. And a video on Vehicle Depreciation is currently in the scriptwriting phase.

[@wombat0433]

Gtgank you