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# Delete this question

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Expert Alumni

## Delete this question

The IRS lists the depreciable life of a fence as 15 years.  When did you purchase the property?  As for the FMV of the fence, what would it cost to replace the fence with a similarly built one?

E.g., suppose the fence would cost  \$1,200 to replace it & you bought the property 5 years ago.  \$1,200 / 15 = \$80 depreciation/year.  5 yrs x \$80 = \$400.  \$1,200 - \$400 = \$800 FMV

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Expert Alumni

## Delete this question

The IRS lists the depreciable life of a fence as 15 years.  When did you purchase the property?  As for the FMV of the fence, what would it cost to replace the fence with a similarly built one?

E.g., suppose the fence would cost  \$1,200 to replace it & you bought the property 5 years ago.  \$1,200 / 15 = \$80 depreciation/year.  5 yrs x \$80 = \$400.  \$1,200 - \$400 = \$800 FMV

Expert Alumni

## Delete this question

I realize that this may be a simplified example, but I hope it will help give you some kind of idea in how to proceed.

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