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.
Residential real estate can be âdepreciatedâ over 27 Â½ years or 40 years, depending on the schedule you adopt. Depreciation is an income tax deduction that enables rental property owners to recover their costs. If you donât claim depreciation, you still have to ârecaptureâ it when you sell the property. Depreciation recapture involves adding the prior depreciation deduction amounts to the sale price.