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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. First-year bonus depreciation is a special depreciation deduction that was enacted to help boost the economy. With bonus depreciation, you can deduct a specified percentage of your property's cost in a single year and depreciate the rest using regular depreciation. For calendar year 2012 and 2013, the first-year depreciation deduction is 50%. Bonus depreciation is scheduled to expire in 2014. How Much You Depreciate Each Year