"And any improvements have the same recovery period (useful life)." This statement in the initial post is a little confusing/misleading?
From IRS pub 527 pg.9
MACRS Recovery Period:
Type of Property
GeneralDepreciationSystem AlternativeDepreciationSystem
Appliances, such as:
• Stoves
• Refrigerators . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 years 9 years
Carpets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 years 9 years
Furniture used in rental property . . . . . . . . . . . . . . . . . 5 years 9 years
Roads . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 years 20 years
Shrubbery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 years 20 years
Fences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 years 20 years
Residential rental property (buildings or structures) and
structural components such as furnaces, waterpipes, venting,
etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.5 years 30 years
Additions and improvements, such as a new roof . . . . . . . . The same recovery period as
that of the property to which the addition or improvement is made, determined as if the
property were placed in service at the same time as the addition or improvement. (ie: 27.5 years)
