What is the depreciation period for a new concrete pad to park business trailers and van at home office?

[HelenaC · Accepted solution]

Per IRS Publication 946 - IRS.gov   How To Depreciate Property • Section 179 Deduction • Special Depreciation Allowance • MACRS • Listed..., it would generally be 15-year property. See the screenshot below.

Related information:

• What is a Section 179 deduction?
• What is MACRS and MACRS convention?
• What is depreciation?
  

[diamondmusic]

Thank you!

[diamondmusic]

Am I able to use bonus depreciation for the concrete pad?

[HelenaC]

It qualifies for Special Depreciation Allowance of 50%. As you enter the concrete pad in TurboTax, you will be given an option to select the special depreciation allowance.

[diamondmusic]

Thank you!

[HelenaC]

Thank you for using TurboTax. We really appreciate it!

[Doug Willford]

See IRS Publication 946, Page 17 - What Property Does Not Qualify?

There is specifies Land and Land Improvements as not qualifying for Section 179.