Unfortunately, the IRS determines the useful life of asse...

If I purchased a used dump truck this year, can I depreciate it over three years rather than five years?

Purchased a used dump truck for $82,023 in January, 2015. I only plan to keep it 3 years. Can I depreciate it over 3 years instead of 5 years?

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Unfortunately, the IRS determines the useful life of assets for depreciation. You may sell the asset after three years, even if it isn't fully depreciated.

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If I purchased a used dump truck this year, can I depreciate it over three years rather than five years?

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