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Fully Depreciated

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Fully depreciated
An asset that has already been charged with the maximum amount of depreciation allowed by the IRS for accounting purposes.

Fully Depreciated
An asset that has, over time, depreciated to no book value. A company may no longer write off part of the value of a fully depreciated asset because, legally speaking, there is no value. However, the fully depreciated asset may still be used because depreciation often bears only a rough relationship to an asset's actual usable life.

fully depreciated
Of or relating to a fixed asset that has been depreciated to a book value of zero. An asset can be fully depreciated and still be used.


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Does the fact that an asset is not fully depreciated mean it should continue to be in use?
By accounting bound, I mean that it may not be fully depreciated and they are loath to write it off.
All the aircraft in Castle Harbour, however, already had been fully depreciated for tax purposes.
 
 
 
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