Depreciation qualification definitionQuestion How does an asset qualify to be depreciated?
Answer To be depreciable, an asset must be the kind that wears out, decays, gets used up, becomes obsolete, or loses value from natural causes. Land is not depreciable, for example, because it's expected to last indefinitely.
The asset must have a determinable useful life that is longer than one year, like, for example, a computer or a building. 
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Author of J.K. Lasser's Small Business Taxes 2007
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