| File | Topic |
|---|---|
| Chapter 15 - Depreciation and Asset Treatment/15.1-depreciation-overview.md | MACRS, Section 179, Bonus Depreciation |
Key concepts: MACRS recovery periods (5/7/15/27.5/39 years), half-year convention, mid-quarter convention trigger (>40% Q4), §179 ($1.25M limit, income limitation, no loss creation), bonus depreciation (40% in 2025, no income limit, no cap), listed property (>50% business use required), luxury auto annual caps, QIP (15-year property).
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