Client owns equipment (kiosks) that is ready for use but stored in warehouse as of Dec 31 2020. The equipment is shipped to the various locations for use in 2021 such that it starts generating sales. Can the equipment be depreciated in 2020?
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See TTB 9-4 for detailed information as it applies to your specific scenario.
Placed in Service Date
Property is considered to be placed in service when it is ready and available for a specific use, whether in a business or an income-producing activity.
Always cite your source for support to defend your opinion
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