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Anne, Master Tax Preparer
Category: Finance
Satisfied Customers: 2419
Experience:  Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
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I need to depreciate a a/c machine for a car shop, what is

Customer Question

I need to depreciate a a/c machine for a car shop , what is the life of the machine? I also need to depreciate a lift for a car shop . What is the estimated life of the equipment? Thanks
Submitted: 6 days ago.
Category: Finance
Expert:  Anne replied 6 days ago.


I'm Anne & I've been preparing taxes for 28 years. I'm reviewing your question now, and will post back with your reply momentarily.

Expert:  Anne replied 6 days ago.


The machine should be depreciated over 7 years.

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Customer: replied 5 days ago.
What about the a/c machine?
Expert:  Anne replied 5 days ago.

I apologize for being unclear. As long as the a/c is portable, then it too should be depreciated over 7 years. 7 years is a "catch all" for things that aren't given any other life span, which is why you will often see alot of 7 year property being depreciated.

I hope this helps.