Statute section
IRC section 168
Accelerated cost recovery system
Country
United States
Section
168
Updated
2026-05-20
Operative text
Section 168 establishes the modified accelerated cost recovery system (MACRS) using statutory recovery periods and conventions. Section 168(k) allows additional first-year (bonus) depreciation, set at 100 percent under TCJA and phasing down from 80 percent in 2023 to 0 percent in 2027 absent further legislation.
Amendment history
2017-12-22
Pub. L. 115-97
TCJA increased bonus depreciation to 100 percent and extended the rule to used property.
Cross-references
Related guides
Related citations
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Primary sources
- 26 U.S.C. section 168Verified 2026-05-20
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.