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#1
01-30-2005, 10:23 PM
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 Re: Furnace - depreciate over 7 years or 39 years? "James" <james_s1315[at]yahoo.com> wrote: - quote - > A client installed a $50,000 geo-thermal furnace in their
I believe that a furnace is not "structural" so it should> shop building (trade or business, not rental). We know it's > entitled to the energy credit. The questions is, is it 39 > year life property or 7 year life property? The debate may > turn to whether it is real property or personal property. be 7 years. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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01-27-2005, 02:22 PM
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| Re: Furnace - depreciate over 7 years or 39 years? James wrote: - quote - > A client installed a $50,000 geo-thermal furnace in their
My understanding is that unless it's a dedicated furnace> shop building (trade or business, not rental). (for a specific piece of equipment or a specific process), it's 39 years. I just looked this up regarding a client's HVAC unit. Phoebe  << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
01-26-2005, 07:43 PM
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| Furnace - depreciate over 7 years or 39 years? A client installed a $50,000 geo-thermal furnace in their shop building (trade or business, not rental). We know it's entitled to the energy credit. The questions is, is it 39 year life property or 7 year life property? The debate may turn to whether it is real property or personal property. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| depreciate, furnace, years |
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