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Old 01-26-2009, 09:49 AM
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How do I go about depreciating "used equipment" bought for my C Corporation?

Dear TaxGuru:

I am considering purchasing some used equipment for my business. Clearly, it has been fully written off by the previous owner. Then please guide me as to how I can go about depreciating "used equipment" bought for my C Corporation? Is it possible to write it off?

Any help in this matter would be appreciated! Thanks.



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