The term ‘depreciable life’ is used to refer to the estimated time span that a depreciable property will generate income. It is also known as useful life. The depreciable life is taken into account while calculating depreciation and amortization deductions.
For tax purposes, depreciable life means the number of years over which the cost of an asset may be spread. And for appraisal purposes, it means the estimated useful Life of an asset.