Discussion:Remodeling Pole Barn-Depreciation

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Discussion Forum Index --> Tax Questions --> Remodeling Pole Barn-Depreciation


Taxmom (talk|edits) said:

15 February 2007
One of my clients remodeled part of an old pole barn (about 40 years old) to turn into a repair shop (Schedule C business). Total cost was $8800 for 2006 and the remodeling is about 1/2 way complete. The pole barn was included in the purchase of their home/land/pole barn about 20 years ago.

Should this remodel be depreciated for 39 years? Id rather not go that long if there is another class that may fit.

Deback (talk|edits) said:

February 15, 2007
39 years, beginning on the date the completed repair shop is placed into service.

Taxmom (talk|edits) said:

15 February 2007
I was afraid you'd say that :(

Deback (talk|edits) said:

February 15, 2007
Sorry, maybe someone else will come up with a better answer for you.

Death&Taxes (talk|edits) said:

15 February 2007
Your client would have to spend the money for a cost aggregation study [I think that is the name] and I think once completed, it might be too late for that.

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