Dictionary of Real Estate Terms: section 168
section 168
section of the Internal Revenue Code that deals with the Accelerated Cost Recovery System and Modified Accelerated Cost Recovery System, which are the methods of computing depreciation for tax purposes.
Example: Depreciable residential rental property [apartments] is depreciated under the straight-line method over 27.5 years. Depreciable commercial real estate has a 39-year depreciable life, using the straight-line method.
