Recovery period definitionQuestion What is an asset’s recovery period?
Answer This is a tax term that refers to the depreciable life of the asset, or the recovery period.
Different types of assets have different recovery periods: three years, five years, 40 years, etc. The length of the recovery period has nothing to do with how durable a particular item may be. Check the classification of property to find the recovery period for a particular item. 
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Author of J.K. Lasser's Small Business Taxes 2007
Related Categories: Accounting, Finance, Taxes
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