As per federal laws, US taxpayers are allowed to claim
50% of the basis of an asset
during the year it was put into service. The remaining 50% of the asset's basis may be then claimed for the regular depreciation amount
. The law pertains to assets put in service after December 31, 2007 and before January 1, 2011 for the majority
. For certain property with lengthier production
periods, taxpayers have until before January 1, 2012.