Is depreciation included in gross income for mitigation purposes?
MultiRegion, United States of America
The following excerpt is from Schwartz v. U.S., 67 F.3d 838 (9th Cir. 1995):
The case law supports this definition of gross income. In Gardiner v. United States, 536 F.2d 903 (10th Cir.1976), the court held depreciation is not an item included in gross income for the purposes of mitigation. The court reasoned:
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