How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29934
Experience:  Taxes, Immigration, Labor Relations
870116
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

What is depreciable life repaving on a commercial property?

Customer Question

What is depreciable life for driveway repaving on a commercial property?
JA: Thanks. Can you give me any more details about your issue?
Customer: What do you want to know?
JA: OK got it. Last thing — Tax Professionals generally expect a deposit of about $32 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 1 year ago.
Category: Tax
Customer: replied 1 year ago.
already gave credit card info. Ready to quit this entire exercise.
Expert:  Lev replied 1 year ago.

Certain improvements made directly to land or added to it (such as shrubbery, fences, roads, sidewalks, and bridges) are depreciated over 15 years - Recovery Period under GDS (MACRS).
See page 100 in IRS publication 946

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

That woudl be Asset Class = 00.3 - Land Improvements.

Questions?

Expert:  Lev replied 1 year ago.

As stated above land improvements are depreciable, and the recovery period under the general depreciation system assigns a 15-year.

However while that is less-common - you may choose to use an alternative depreciation system, and under that system - you will depreciate land improvements over a 20-year period, instead.

.
I appreciate if you take a moment to rate the answer.
Experts are ONLY credited when answers are rated positively.
If you still have any doubts, need clarification - please be sure to ask.
I am here to help you with all tax related issues.