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DIVISION 40ORDER CONTROLLING TRIAL AND PRETRIAL CHECKLIST (Pursuant to Fla. R. CIV. P. 1,200(d)) (Bring (do not file) completed checklist to Pretrial Conference CASE #: CA OP/T DATE: / /20 CASE STYLE:
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Division 40 is a section of the tax code that pertains to deductions for decline in value of depreciating assets.
Individuals or businesses who own depreciating assets and wish to claim deductions under Division 40 are required to file.
To fill out Division 40, individuals or businesses must calculate the decline in value of their depreciating assets and claim the appropriate deduction on their tax return.
The purpose of Division 40 is to provide tax incentives for individuals and businesses to invest in depreciable assets by allowing them to claim deductions for the decline in value of those assets.
On Division 40, individuals or businesses must report the details of their depreciating assets, such as the asset's cost, its effective life, and the depreciation method used.
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