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Discussion:Depreciation of Cabinets?
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Discussion Forum Index --> Tax Questions --> Depreciation of Cabinets?
Gwh33 (talk|edits) said:
| 24 February 2007
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| Anyone know the life of cabinets placed in a rental? Thanks.
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JAD (talk|edits) said:
| 24 February 2007
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| Check out Announcement 99-82 re 5 year life.
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ScottCPA (talk|edits) said:
| 25 February 2007
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| i was never 100% sure about taking them as 5 yr vs. 27.5 yr property. i know i've seen other CPA's/tax pros keep the cabinets as 27.5/39 yr life - what's the consensus here?
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DZCPA (talk|edits) said:
| 25 February 2007
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| How much did they cost? Under $1000 write them off.
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Mediumpopi (talk|edits) said:
| 25 February 2007
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| A liberal interpretation would be the cabinets are removeable and not part of the structure therefore not 27.5
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ScottCPA (talk|edits) said:
| 25 February 2007
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| I just had to deal with about $7,000 of these costs in a new commercial offc. And what about a 100 unit apartment complex being built? cost is not immaterial anymore!
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ScottCPA (talk|edits) said:
| 25 February 2007
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| Mtmckeecpa - i didn't see anything in your link to the other thread about cabinets - did i miss it? Thanks
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Mtmckeecpa (talk|edits) said:
| 25 February 2007
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| Sorry, no, when I saw your reference to commercial bldgs, I remembered a discussion about whether or not a 179 deduction could be taken on personal property assets placed in a service for a rental commercial bldg. Your situation may not involve rental commercial property.
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Daniteel (talk|edits) said:
| 25 February 2007
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| I have always taken cabinets at 27.5/39 year life.
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ScottCPA (talk|edits) said:
| 26 February 2007
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| sounds like a mixed response - "real" property vs. "tangible personal" property. ummmmmm I guess I'll let the client make the decision
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