Which of the following is NOT a requirement for a property to be depreciable?

For a property to be depreciable, it must meet specific criteria, and one important aspect is that it should indeed have a determinable useful life. If an asset does not have a determinable useful life, it cannot be systematically depreciated over time because depreciation is intended to represent the gradual reduction in value of a property as it is used over its useful life.

In contrast, the requirements that a property must be owned by the taxpayer, must be expected to last longer than one year, and must generate business income are all essential aspects of property depreciation. Owning the property ensures that the taxpayer has the legal right to claim depreciation. A useful life exceeding one year indicates the property is not a short-term expenditure, and generating business income ties the asset’s use to an economic activity, which is necessary for claiming depreciation.

Thus, the correct answer highlights that the absence of a determinable useful life directly contradicts the fundamental principles of depreciation, making it the valid option as the one that does not meet the criteria for depreciability.