What is a Listed property?
Listed property is an IRS classification for assets prone to personal use, including vehicles, computers, and entertainment equipment, that must meet stricter documentation requirements to claim accelerated Depreciation and amortization. Business use must exceed 50% to qualify for bonus depreciation and Section 179 expensing. If business use drops below 50% in subsequent years, depreciation recapture rules apply, requiring taxpayers to recognize previously claimed deductions as ordinary income.
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