How do I figure out what the depreciation period is for tools?
My husband buys tools every year for his job. It is asking for a recovery period for them. Any suggestions of what this would be?
011021
1 Replies
gehinious
Level 3
May 31, 2019 11:09:28 PM
It appears that tools for your husband's trad would be depreciated as a 57.0 class life, meaning 5 years. The tables in IRS Pub. 946 are kind of difficult, but I believe 5 years is correct.