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No other assets were added, and only prior year assets were depreciated in 2013. My question relates to being able to elect OUT of the bonus depreciation on the amended 2013 return... I see the rule that a missed election out can be made on an amended return if file within 6 months of original due date.
Bonus Depreciation. What is a 'Bonus Depreciation'. A bonus depreciation is an additional amount of deductible depreciation that is awarded above and beyond what would normally be available. Bonus depreciation is always taken right away, in the first year that the depreciable item is placed in service.