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  • Armando Beaujolais
    Senior Member
    • May 2005
    • 504
    #31
    Originally posted by JG EA
    "Ready and available". Hard to be available if there is no business. See the e.g. after this rule. The word "installed" is used.
    JG is correct. I had stated that a business need not have been started yet to claim depreciation for an asset that was "ready and available for use in a trade or business." I was poking around some court cases and found that the business does, indeed, need to exist before the "ready and available" provision is relevant.

    Sorry bout that.

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      • JG EA
        Senior Member
        • Jul 2005
        • 2176
        #32
        Wow!

        Appreciate that.
        JG

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