Kira Karoly

Bonus Depreciation 2024 Rental Property Tax Return. The election must be made by filing a statement with form 4562, “depreciation and amortization,” by the due date, including extensions, of the federal tax return for the. Bonus depreciation only applies to items that are depreciated for 20 years or less.

Under the new law, the bonus depreciation. Utilize both bonus depreciation and section 179 expensing to maximize tax savings.