Lucie Robenia

Bonus Depreciation 2024 Rental Property Rental Property. Residential properties have a useful life of 27.5 years, while the useful life of a commercial property is 39 years. What are the eligibility requirements for the additional first year depreciation deduction following the enactment of the tax cuts and jobs act of 2017 (“tcja”)?

For vehicles under 6,000 pounds in the tax year. Bonus depreciation has been changed for qualified assets acquired and placed in service after september 27, 2017.