| cost | No | Required. Cost basis of the asset (purchase price plus sales tax, shipping and installation), e.g. 25000 or "$25,000". For a building, leave out the land value. | |
| name | No | Asset name or description, e.g. "Dell laptop" or "Rental house at 12 Oak St". Also used to pick a MACRS class or a default life when none is given. | |
| method | No | Depreciation method: straight_line (default), double_declining (200% declining balance), 150db, declining_balance, sum_of_years, units_of_production, or macrs (US tax, IRS Pub 946 tables). Synonyms like "DDB", "SYD", "tax" work. | |
| convention | No | First-year convention. MACRS: half_year (default) or mid_quarter; real property always uses mid_month. Book methods: full_month (default, the month placed in service counts), mid_month, half_year or full_year. | |
| land_value | No | Land value included in cost, e.g. 70000 for a house bought with its lot. It is taken out of the basis because land is not depreciable. | |
| units_total | No | Units of production only: estimated total lifetime units, e.g. 100000 (miles, hours or pieces). | |
| salvage_value | No | Salvage (residual) value at the end of the life, e.g. 2000 or "10%". Default 0. Ignored by MACRS. | |
| declining_rate | No | Declining balance rate in percent: 200 (default, double declining), 150 or 125. | |
| property_class | No | MACRS GDS recovery period: 3, 5, 7, 10, 15, 20, 27.5 (residential rental) or 39 (nonresidential real property), or words like "residential rental", "computer", "office furniture". | |
| units_per_year | No | Units of production only: units used each year starting with the year placed in service, e.g. [20000, 25000, 18000] or "20000, 25000, 18000". | |
| placed_in_service | No | Date placed in service, e.g. 2026-03-15, "March 2026" or 03/15/2026 (US order). Only the month and year matter. Default January of this year. | |
| useful_life_years | No | Useful life in years for book methods, e.g. 5 or "7 years" or "60 months". Default from the property class or the description, else 5. | |
| business_use_percent | No | Business-use percent of the asset, e.g. 80 for 80%. Default 100. Basis and salvage are scaled by it. | |
| switch_to_straight_line | No | Declining balance only: switch to straight-line when it gives more depreciation. Default true. | |