A period of years during which the cost of business assets is written off under ACRS or MACRS.

The number of years over which property in a given class is depreciated. The MACRS General Depreciation System divides most types of tangible depreciable property into classes with recovery periods of 3, 5, 7, 10, 15, or 20 years. Residential rental property has a recovery period of 27.5 years and nonresidential real property has a recovery period of 39 years (31.5 years if the property was placed in service before May 13, 1993). Also see ‘Depreciation” and ‘Modified Accelerated Cost Recovery System.

(Accounting based) The period over which depreciation is taken; the capital cost recovery period.

The number of years over which specific classes of capital assets can be depreciated.

The number of years over which the basis of an item of property is recovered.

Period of time, determined by each individual state, in which a person can seek financial recovery from a broker or agent.