Water Tender

[Mary not the other Mary]

T/P started a water tender business last year.  It's on a F 550 chassis.  I don't see this as a Listed Auto, it is highway registered of course but like an ambulance you're not likely to use this as a Personal vehicle.  So if this is correct, and I enter it on the FA sheet as a Vehicle and a 10 year water transport equipment (again, I don't find that sub category in ANY of my tax books--what IS that??  transport equipment over the water, or equipment that transports water??) cannot put actual expenses in under vehicle.  On the other hand if I put it as 5year truck over 6000lbs (GVWR is 19,500 lbs) I can list it here.  It just won't be subject to 280F limitations??  Not Listed Property?

 

Am I overthinking this???

[Lee B]

See  Pub 946 - Since the GVW of an F550 is over 6,000, it is not listed property and 280F limitations do not apply - 5 year life.

 

[DANRVAN]

2 hours ago, Mary not the other Mary said:

10 year water transport equipment (again, I don't find that sub category in ANY of my tax books--what IS that??  transport equipment over the water,

Yes, transporting over water, asset class 00.28  See table B-1 in pub 946.

 

2 hours ago, Mary not the other Mary said:

put it as 5year truck over 6000lbs (GVWR is 19,500 lbs)

Yes, asset class 00.21 or 00.242 if actual unloaded weight is over 13,000.

 

 

[DANRVAN]

2 hours ago, Mary not the other Mary said:

over 6000lbs (GVWR is 19,500 lbs)

GVWR is the recommended loaded weight.