@AmeliesUncle https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-a-comparison-for-businesses
"The general depreciation system recovery periods are still 39 years for nonresidential real property and 27.5 years for residential rental property. The alternative depreciation system recovery period for nonresidential real property is still 40 years. However, TCJA changes the alternative depreciation system recovery period for residential rental property from 40 years to 30 years. Qualified leasehold improvement property, qualified restaurant property and qualified retail improvement property are no longer separately defined and given a special 15-year recovery period under the new law."
As per review from numerous CPA journals: The Act also allows bonus depreciation and a 15-year recovery period for an expanded class of property improvements, such as building interior renovations, roofs, ventilation, heating and air conditioning systems, fire protection, alarm systems, and security systems now qualify as 15-year property.https://www.frazierdeeter.com/insights/irs-clarifies-new-rules-for-bonus-depreciation/#:~:text=The%2....
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