### Question
What does depreciable property mean?


### Answer
**Depreciable property** has the following meaning in *26 U.S.C. § 1017*:

> any property of a character subject to the allowance for depreciation, but only if a basis reduction under subsection (a) will reduce the amount of depreciation or amortization which otherwise would be allowable for the period immediately following such reduction

#### Citation:
  - *26 U.S.C. § 1017*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter O-Gain or Loss on Disposition of Property > PART II-BASIS RULES OF GENERAL APPLICATION**

