Industrial tent depreciation

Forum|Forum|3 years ago
April 18, 2023
1 reply
0 views

I have an industrial tent for my plant nursery retail space. I want to depreciate this but i cannot figure out the asset class. Would this be land improvement? not sure how long i can depreciate either, year wise

Not A Product Question

AnnetteB6

No it would not be a land improvement. Some examples of land improvements include drainage and irrigation systems, fencing, landscaping, and parking lots and walkways.

If there does not seem to be a specific category that fits for depreciating the tent, the default is to depreciate it over 7 years.

If you choose Tools, Machinery, Equipment, Furniture and then General Purpose Tools, Machinery and Equipment when entering the Asset, the depreciation will be 7 years.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"