Since no one has answered this yet...

You should talk to your tax advisor because it depends
heavily on your particular facts. If you are the tax
advisor, try looking in CCH's Master Depreciation Guide or a
similar work.

First, it could be Code section 1250 real property or Code
section 1245 tangible personal property. This
characterization will depend on whether it meets the sole
justification test of the former Investment Tax Credit regs.
The Morrison and Hospital Corp. of America cases discuss
this issue.

Second, if it's 1250 property, it could be classified as
39-year nonresidential real property, 27.5 residential
rental property, 15-year qualifying leasehold improvement
property, 15-year qualifying restaurant property, or 15-year
retail motor fuels outlet property.

Third, if it's 1245 property, it almost certainly would be
5-year property classified in asset class 57.0 of Rev. Proc.
87-56. Under certain circumstances, it could end up being
classified in asset class 00.3 with a fifteen year recovery
period.

Finally, it might be something else. The world is full of
weird factual situations.

/brian

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

What is the recovery period and property type of a restaurant
ventilation system?

Chas

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >