(See IRC Â§ 1245(a)(2)(A)). For example, if a taxpayer purchased a widget with a $1,000 basis, then deducted $100 from his ordinary income each year for the widgetâs depreciation, after four years the widgetâs adjusted basis would be $600.
The tulip is a Eurasian and North African genus of perennial, bulbous plants in the lily family. It is a herbaceous herb with showy flowers, of which around 75 wild species are currently accepted.
Definition of tulip tree. 1 : a tall North American timber tree (Liriodendron tulipifera) of the magnolia family having large greenish-yellow tulip-shaped flowers and soft white wood used especially for cabinetwork and woodenware âcalled also tulip poplar, yellow poplar.