depreciating a race horse owned by a partnership

[emeraldcity]

How do I depreciate a race horse (asset) owned by a partnership? 

[ColeenD3]

Racehorse are 3-year property. They are depreciated the same way as any other asset. Pub 946

1. 3-year property.

   1. Tractor units for over-the-road use.

   2. Any race horse over 2 years old when placed in service.

   3. Any other horse (other than a race horse) over 12 years old when placed in service.

   4. Qualified rent-to-own property (defined later).

[emeraldcity]

Thank you.  Using the 3 year method, is it possible to take less depreciation the first year and more the second year?

[ColeenD3]

Yes. Regular MACRS will give you that. See the table below for three year property.