Placed In Service

Placed In Service means:
ready for use. A depreciable asset is deemed to be placed in service when it is first placed in a condition or state of readiness and availability for a specifically assigned function; this date fixes the beginning of the depreciation period. Former Tax Regulation (check if this Reg. is current here) §l.l67(a)-l 1(e)(1).

See Depreciation in the United States Encyclopedia of Law and Depreciation in the World Encyclopedia of Law.

Description and Definition of Placed in Service

The date at which a depreciable asset is initially used. This date fixes the beginning of the depreciation period. Often the date you place an asset in service is the same as the date you purchased it.

Resources

See Also

Further Reading

• Placed in Service in the West's Tax Law Dictionary
• Placed in Service in “A Dictionary of Taxation”