Depreciation is a pivotal concept for anyone with assets in the business or rental sector.

Yet despite its significance, depreciation can leave many taxpayers puzzled over when it truly begins.

In essence, depreciation commences not when an asset sees actual utilization, but when it is set and ready for its intended use. This subtle distinction, as outlined by the IRS, is crucial for understanding tax deductions and maximizing asset value.

This article delves into the specifics of when depreciation starts ... Log in to view full article.