Noun. 1. specific heat-the heat required to raise the temperature of one gram of a substance one degree centigrade. heat, heat energy-a form of energy that is transferred by a difference in temperature. 1  Facebook.
You begin to depreciate your property when you place it in service for use in your trade or business or for the production of income. You stop depreciating property either when you have fully recovered your cost or other basis or when you retire it from service, whichever happens first.
Depreciation. The construction costs associated with converting a basement into a rental apartment are not immediately tax deductible. Such basement finishing is considered a capital improvement, and must be depreciated over a period of 27.5 years as residential rental property.he construction costs associated with converting a basement into a rental apartment are not immediately tax deductible.