Modified Accelerated Cost Recovery System (MACRS) Definition:

A method of depreciation required for income tax purposes that depends on which of nine property classes an asset belongs.

Other Related Accounting Articles:

• Unit of Production Method
• Half-Year Convention Definition
• Estimated Recovery Value
• Optional Straight Line Method Definition
• What is Depreciation?
• Definition, Explanation and Characteristics of “Depreciation” or “Accounting Depreciation
• Depreciation: Straight Line Biases
• Actual Cash Value
• Written Down Value
• Revaluation Method of Depreciation