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foundrytownnusic
Returning Member

Over how many years should I depreciate a music video or sound recording asset?

I don't want to use the income forecasting method, just straight-line.
3 Replies
AmeliesUncle
Level 13

Over how many years should I depreciate a music video or sound recording asset?

It can be depreciated over its "useful life".  Unfortunately, there is no clear-cut answer to what that is.  And even if there was a clear-cut answer, I don't think TurboTax is capable of correctly doing that type of depreciation (that type of depreciation also requires using a "salvage value" and I don't think the program is capable of doing that).

Critter-3
Level 15

Over how many years should I depreciate a music video or sound recording asset?

Equipment is 7 year property or 10yr SL. 

foundrytownnusic
Returning Member

Over how many years should I depreciate a music video or sound recording asset?

Thanks. I was going to use the "safe harbor" 3-yr, but its for a multi-member LLC. I will use seven years.

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