Depreciation when you've gone out of business.

[awestbrook713]

Can I still claim depreciation if I went out of business before the end of the year?

If I can:
Can I still claim depreciation on items such as the new water heater we had to buy or the multi purpuse printer. Both items were bought while in business. Can I use the 50% bonus depreciation rule on these items.

[TomCopeland]

Depreciation

Yes, you can still claim depreciation even though you went out of business before the end of the year.
That includes your water heater and printer. Yes, you can use the 50% bonus depreciation rule on eligible items.

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