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ron2024
Returning Member

useful life depreciation

What are the useful life of the following assets: All of the following assets are used in a Restaurant Business 1) signage 2) reach-in freeze 3) food warmer 4) kitchen floor replacemen 5) Kitchenware 6) table for customers use
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JamesG1
Expert Alumni

useful life depreciation

See pages 28-30 in IRS Publication 946 here for broad categories of business property.

 

Page 28 states that 7 year property includes:

 

Any property that does not have a class life and has not been designated by law as being in any other class.

 

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