What is a recovery period on form 2106
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

What is a recovery period on form 2106

 
1 Reply
New Member

What is a recovery period on form 2106

 A recovery period is how long the asset can be expected to last and therefore, it's time period for depreciation.

Cars, computers and office equipment have a 5 year recovery period.

Office Furniture has a 7 year recovery period.

For other assets, please see the link below.

https://www.irs.gov/pub/irs-pdf/p946.pdf 

Dynamic Ads
v
Privacy Settings