Chapter 12 Depreciation Flashcards
Under MARCS which property class does a horse belong to?
3-year
Under MARCS which property class does a qualified rent-to-own property belong to?
3-year
Under MARCS which property class do automobiles, taxis, buses and trucks belong to?
5 year
Under MARCS which property class do computers belong to?
5-year
Under MARCS which property class does office machinery ( such as typewriters, calculators and copiers) belong to?
5-year
Under MARCS which property class does any property used in research and experimentation belong to?
5-year
Under MARCS which property class does a cattle belong to?
5-year
Under MARCS which property class do carpets, appliances, furniture etc, used in residential rental property belong to?
5-year
Under MARCS which property class does geothermal, solar and wind energy property belong to?
5-year
Under MARCS which property class does office furniture and fixtures (such as desks, files and safes) belong to?
7-year
Under MARCS which property class does agricultural machinery belong to?
7-year
Under MARCS which property class does any property that does not have a class life belong to?
7-year
Under MARCS which property class does any natural gas gathering line placed in service after April 2005 belong to?
7-year
Under MARCS which property class do vessels, barges, tugs and similar water transportation equipment belong to?
10-year
Under MARCS which property class does amy single purpose agricultural or horticultural structure belong to?
10-year
Under MARCS which property class does any tree or vine bearing fruit or nuts belong to?
10-year
Under MARCS which property class do certain depreciable improvements made directly to land ( such as shrubbery, fences, sidewalks, roads and bridges) belong to?
15-year
Under MARCS which property class does any qualified leasehold improvement property placed in service before 2015 belong to?
15-year
Under MARCS which property class does any restaurant property placed in service before 2015 belong to?
15-year
Under MARCS which property class does any qualified retail improvement property placed in service before 2015 belong to?
15-year
Under MARCS which property class do farm building (other than single use structures) belong to?
20-year
Under MARCS which property class does any water utility property belong to?
25 year
Under MARCS which property class does a tractor belong to?
3-year property
Under MARCS which property class does real property that makes 80% or more of its gross income from dwelling units belong to?
Residential rental property
