Hello
I am looking for more information on class life asset depreciation for different assets.
A submersible well water pump is expected to last about 10-15 years. Why would I depreciate it over 27.5
Same for a wooden deck is expected to last 15 years
French drain or drainage system.
Basement interior waterproofing with specialized cement.
Same for house windows and AC units which are definitely not going to last 27.5 years
The idea is to maybe qualify some of the items above for Special Bonus Depreciation which could be allowed for items with 20 years or less of life expectancy.
IRS guidelines does not specify in detail for items above. If there is more experience please share.
