All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

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Esteemed Pioneer
Posts: 12
Registered: ‎03-12-2017
Accepted Solution

Lawn mower depreciation

I am depreciating my lawn mower for its use on my rental property. Premium is asking for the recovery period. And, I need to figure the class life of the mower. How do I do this?

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Associate (Neighbor)
Posts: 212
Registered: ‎07-22-2014

Re: Lawn mower depreciation

Hi, Kimybrown.

 

Sorry I forgot to include that information in the last thread we had discussing this.

The lawn mower would be considered "Machinery and Equipment," and has a class life of 7 years.  I don't think the program asks for the asset class, but if it does, it would be 01.1

 

Hope that helps!

 

-kurt

Esteemed Pioneer
Posts: 12
Registered: ‎03-12-2017

Re: Lawn mower depreciation

Oh, you stated 7 years in the earlier thread. I just didn't think to look at it until after I posted this. Thank you for all your help KurtH!!

 

Kimybrown