cpabsd Posted March 3, 2009 Report Share Posted March 3, 2009 Client has residential rental property. They put a storage shed in the back to keep things like mower and tools. Does this have to be depreciated over 27.5 years? I don't know where else to put it but that really stretches it out. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted March 3, 2009 Report Share Posted March 3, 2009 I put one on my rental property and took it as land improvement, 15 years. Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted March 3, 2009 Report Share Posted March 3, 2009 Check out the pub: http://www.irs.gov/publications/p946/index.html taxbilly Quote Link to comment Share on other sites More sharing options...
RoyDaleOne Posted March 3, 2009 Report Share Posted March 3, 2009 On the IRS web site storage sheds are listed as Section 1245 property, which would qualify for 5 year property. Quote Link to comment Share on other sites More sharing options...
cpabsd Posted March 3, 2009 Author Report Share Posted March 3, 2009 Thank you for your help. I am trying to complete a lot of corporations and sometimes can not put my hands on the information I know is out there. 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.