accumulated depreciation

Definition

The depreciation that has taken place on a particular asset up to the present time.

Use this term in a sentence

There was some accumulated depreciation on the item and I knew there were going to be some more problems later on.

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The accumulated depreciation was near fully depreciating the asset on our book value so we assessed its likely functionality for next year.

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In order to correctly itemize deductions on a tax return, the tax preparer will need to properly figure the accumulated depreciation on any tangible assets.

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depletion expense net fixed assets