Hello,

I am preparing a depreciation schedule for a Schedule C business using ProConnect. The fixed assets fall into two categories: some equipment with a 5-year useful life, and other equipment with a 7-year useful life.

I would like to confirm the following:
When electing the special depreciation allowance (bonus depreciation), can I choose to apply it only to the 5-year equipment and elect out of it for the 7-year equipment? Or must the election apply uniformly to all fixed assets?

Thank you!