@dagber wrote:
Deprecates over 39 years?! In what world does an HVAC system last 39 years?
I would trust any answer @TaxGuyBill gives without question. In this case, commercial property (such as a factory or standalone office) is depreciated over 39 years. So I assume that any property that is permanently attached to the commercial property also takes the same depreciation period. (As opposed to portable equipment which would keep its own life.) In this case, the "commercial property" happens to be the taxpayer's home office.
Now, I believe that if the asset is "retired" early, meaning it is taken out of service and has no salvage value, the remaining un-depreciated value can be taken as an expense at that time. But I don't guarantee that is correct.
