Excess Depreciation
Definition of "Excess depreciation"
Costs taken over an above what one is entitled to. This can occur either by claiming depreciation costs exceeding actual depreciable value or by depreciating items that cannot be depreciated. Items that cannot be depreciated include land, since it never wears out, inventory, containers, costs to demolish a building, a life interest or an interest for a term of years in a property, or income interest in a trust.
Popular Real Estate Terms
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Personal property or real property that are passed on to heirs upon one's death. ...
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