grandmabee Posted March 17, 2008 Report Posted March 17, 2008 Sch C business. rents out heavy equipment. life of assest excavator, dump truck. Should I use the 5 year life for construction equipment or the 7 year life for regular equipment. The sch C is not in the contruction business but all the renters are. Any help please. Quote
MJG CPA Posted March 17, 2008 Report Posted March 17, 2008 Sch C business. rents out heavy equipment. life of assest excavator, dump truck. Should I use the 5 year life for construction equipment or the 7 year life for regular equipment. The sch C is not in the contruction business but all the renters are. Any help please. I believe it is the use that determines the life. These assets will be used for construction and I would use the 5-yr construction life. The fact that the owner is in the rental business doesn't change the fact that this equipment will wear out as fast (maybe faster) than constr equip used in any other business. Quote
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