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Depreciation on a building built in 1979

What depreciation would you use on a commercial building that was built in 1979, bought in 2006?  It is an older structure - do you still use 39 years?  Since it is an older building - makes sense that the useful life of the building should be less than 39 years or it does not matter?  Thank you for your help!

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6 Replies

Depreciation on a building built in 1979

Nonresidential real estate has a 39 year recovery period under GDS.

 

See https://www.irs.gov/publications/p946#en_US_2019_publink1000107522

 

It makes no difference when the building was constructed. The determinative factor is the date the building is placed in service.

Depreciation on a building built in 1979

Used as a warehouse since 1979 as well.

Depreciation on a building built in 1979

Used by whom? You stated it was "bought in 2006". Is that when you bought it and placed it in service?

Depreciation on a building built in 1979

I am sorry -  it is a rental - it had different tenants.  Bought in 2006 with a tenant already there.  New tenant since 2007.

Depreciation on a building built in 1979


@LM2020 wrote:

Bought in 2006 with a tenant already there.


Then you would use a 39 year recovery period under GDS (placed in service in 2006).

Depreciation on a building built in 1979

Great, thank you so much!

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