cpabsd Posted March 3, 2009 Report Posted March 3, 2009 Client has residential rental property. They put a storage shed in the back to keep things like mower and tools. Does this have to be depreciated over 27.5 years? I don't know where else to put it but that really stretches it out. Quote
joanmcq Posted March 3, 2009 Report Posted March 3, 2009 I put one on my rental property and took it as land improvement, 15 years. Quote
TAXBILLY Posted March 3, 2009 Report Posted March 3, 2009 Check out the pub: http://www.irs.gov/publications/p946/index.html taxbilly Quote
RoyDaleOne Posted March 3, 2009 Report Posted March 3, 2009 On the IRS web site storage sheds are listed as Section 1245 property, which would qualify for 5 year property. Quote
cpabsd Posted March 3, 2009 Author Report Posted March 3, 2009 Thank you for your help. I am trying to complete a lot of corporations and sometimes can not put my hands on the information I know is out there. Quote
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