GAS STATION BUILDING NEW

Forum|Forum|6 years ago
May 17, 2020
12 replies
55 views

In pro Series What is the asset type for the building , 1250 property, which can be depreciated over 15 years ?

Also does the 15 year allow for Bonus depreciation?

Thanks for your help

Mike

ProSeries Professional

This topic has been closed for replies.

Best answer by abctax55

I would suggest a cost segregation study as I imagine there are MANY components to a gas station, with many different depreciable lives to consider

abctax55Answer

Level 15

I would suggest a cost segregation study as I imagine there are MANY components to a gas station, with many different depreciable lives to consider

HumanKind... Be Both

M

mike9Author

Level 5

Thank you Bill for your quick response. Can you advise what asset type a 15 year building would go tot on pro Series?

Thanks for reminding me about qualified property. Only cost seg will help .

T

TaxGuyBill

I guess I'm asking WHY do you think it is 15 year property? A new commercial building is usually depreciated over 39 years. Why do you think 15 years is appropriate?

T

TaxGuyBill

What are the assets and what depreciation category that you think they are in?

abctax55

Level 15

Bill.... you *really* need to upgrade your avatar 🤣

HumanKind... Be Both

T

TaxGuyBill

LOL. I can't even tell what that 'default' avatar is that they gave me.

Okay, I just checked and it is a "flute" (under musical instruments).

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