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04-14-2018 09:29 AM
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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04-14-2018 10:22 AM
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!