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Question

how many years will the IRS allow me to depreciate gas station pumps and associated equipment? Steve

Submitted: 17 days and 21 hours ago.
Category: Tax
Value: $15
Status: CLOSED

Accepted Answer

Hello,

Thanks for your question.

That would fall under asset class 57.0. You could either expense the whole value as a Sec. 179 expense deduction or depreciate the machinery over a 5 year MACRS period or a 9 year ADS period.

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Hope this helps!

Sincerely,

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Expert: JK_CPA
Pos. Feedback: 100.0 %
Accepts: 
Answered: 11/5/2009

Certified Public Accountant (CPA)

with 5 years accounting experience and 18 years tax experience.

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