What are some actual IRS references showing Cost Segregation is approved and recommended by the IRS?
There are many citations to IRS documentation on the legality and use of cost segregation to properly depreciate assets. Below are some references and please also see our Links page for some interesting articles and links to the IRS website. Click on the links below to read more: (each opens in new window) • IRS’s Depreciation Overview – How Property Should Be Depreciated • IRS’s List of Relevant Court Cases Supporting the Use of Cost Segregation • IRS Sample List of Real Vs. Tangible Property (note 1250 is Real Property, 1245 is Personal) Quotes from the IRS’s Cost Segregation Guide: “In order to compute depreciation using proper class lives and recovery periods, assets must be assigned to the proper asset classes. Cost segregation studies generally produce listings or groups of assets, based on asset classes under ACRS (Accelerated Cost Recovery System) or MACRS (Modified Accelerated Cost Recovery System). ” (Click to open IRS Source) “In order to calculate depreciation for Federal i
