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What is asset class for outdoor lighting for commercial rental property?
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posted
June 5, 2019
10:28 PM
last updated
June 05, 2019
10:28 PM
7 Replies
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What is asset class for outdoor lighting for commercial rental property?
The outdoor lighting for commercial rental property would be considered a land improvement (as long as it's not part of the building structure):
- Asset class: 00.3
- Class Life: 20 years
- GDS Recovery Period (MACRS): 15 years
- ADS Recovery Period: 20 years
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June 5, 2019
10:28 PM
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What is asset class for outdoor lighting for commercial rental property?
Actually, the lighting is LED wallpacks attached to the exterior of the buildings but I would not consider them permanently attached. Since they are not on separate poles, etc. I'm thinking they would not be considered land improvements?
June 5, 2019
10:28 PM
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What is asset class for outdoor lighting for commercial rental property?
I was picturing light poles but since that's not the case I agree with you that they wouldn't be considered land improvements.
If the cost is under $2500 you can take them as an expense using either the De Minimis Safe Harbor Election or the Improvements Election.
If the cost is under $2500 you can take them as an expense using either the De Minimis Safe Harbor Election or the Improvements Election.
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June 5, 2019
10:28 PM
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What is asset class for outdoor lighting for commercial rental property?
Unfortunately, they were about $9,200 total so I can't use the election but I'm wondering if I can use the equipment, tools, machinery, etc asset class and depreciate over 5 yrs?
June 5, 2019
10:28 PM
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What is asset class for outdoor lighting for commercial rental property?
I think it's close enough!
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June 5, 2019
10:28 PM
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What is asset class for outdoor lighting for commercial rental property?
Thanks for your time. I appreciate it!
June 5, 2019
10:28 PM
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What is asset class for outdoor lighting for commercial rental property?
You're very welcome!
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April 8, 2020
9:28 AM
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