placed in service

placed in service definition - business

placed in service

Describing the date on which an asset becomes available for use. For business purposes, the date an asset is placed in service is also the date on which depreciation begins: Hybrid vehicles placed in service prior to 2006 were eligible for a clean-fuel tax deduction of up to $2,000.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.