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Dave CPA
Dave CPA, Accountant
Category: Tax
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Experience:  Vast knowledge within the accounting/tax industry
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Dave, for tax purposes for depreciation allowed by the IRS

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Dave, for tax purposes for depreciation allowed by the IRS what portion of depreciation for a S corporation (building) is allowable? I have the equipment and leased equipment figured out.

Hello,

 

Let me research and get back to you shortly.

Customer: replied 4 years ago.
I accepted the other $47 payment and I also left your tip. I also will pay another $47 for the tax question on building.....

Hello,

 

Thanks for the payment. On page 79 is a chart that would show the depreciation method for a building with a 31.5 year life and would allow for depreciation of 3.042% or $15,210 on the building.

 

If this isn't in guidance with your instructors direction, let me know. The link below has all the methods allowable by the irs.

 

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

Dave CPA and 2 other Tax Specialists are ready to help you
Customer: replied 4 years ago.
got it thanks 40 years at 1.25 is our answer (chart solved that)