The 1981 Tax Act: Cost Recovery Choices for Real Property
研究了1981年经济复苏税收法案对不动产折旧模式的影响，通过现金流分析预测投资者会选择哪种成本回收方法，发现加速折旧对住宅有利，但商业地产常选直线法。
This paper examines changes in cost recovery (i.e., depreciation) patterns for realty resulting from the Economic Recovery Tax Act of 1981. While the Act provides for much shorter write‐offs than were previously available, it also imposes more severe recapture penalties for commercial property that has been depreciated according to the new Accelerated Cost Recovery System. An analysis of discounted cash flows is used to predict investor selection of the most advantageous cost recovery method. Although the accelerated system is generally preferable for residential realty, there are many situations where a taxpayer owning commercial property will elect the optional fifteen‐year straight‐line method.