Linda Mathey Posted February 14, 2008 Report Share Posted February 14, 2008 I have a little different situation. My client has a rental condo in Park City, Utah. Each year we compute depreciation based on the number of personal vs rental days. This changes the depreciation percentage each year. It was lower in early years. We have some assets that based on their recovery period are beyond their original life. However they are still in use. Shouldn't we be able to continue to take depreciation up to the current % of business life. For example furnishings that cost $31,087 have been depreciated by $20686. The current year business use is 85% which would indicate that we could depreciate up to $26,424. However this year they are beyond the original life. How do we get ATX to give us depreciation or do we just lose it? Seems like since they are continuing to use the assets we should be able to continue to write off the cost up to the amt. computed by the business %. Does anyone have any suggestions or am I just not thinking clearly? Thanks in advance for your responses. Linda Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.