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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
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?
1250 gain recapture will no longer apply for years after 2004, as all ACRS property will be fully depreciated.
Other properties in service at Pass Wilson and at Caillou Island during the tax years 1998-2008, inclusive, which VLS identified as having a fully depreciated value of $84,414,567, had not been reported at all.
 
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